Labour Court recommends United Beverages fund pension scheme shortfall

The Labour Court recommended that United Beverages Sales Limited (Dublin) pay the additional amount needed to maintain its pension scheme funding. The recommendation, signed on 3 March 1997, followed a dispute with the Services Industrial Professional Technical Union. A 1995 actuarial valuation said contributions of 7% of salary were needed to maintain existing benefits; employer and employee contributions were then 2.5% each. The company proposed raising its contribution to 3.5% if employees did the same. The Court also recommended discussions on future funding and pension improvements, with the pension booklet to be amended if the parties reached agreement.