Labour Court recommends protections for Irish Shell staff ahead of share sale

The Labour Court recommended that Irish Shell employees’ terms and conditions remain unchanged until 31 March 2006, apart from the Share Option Scheme, as the company prepared for a share sale to Topaz Energy Limited. The recommendation was dated 21 November 2005. The Court also recommended that employees continue to access the Irish Shell Defined Benefit Contributory Pension Scheme and accrue benefits until that date, and that no compulsory redundancies take place before then. It called for the parties, Irish Shell and Services Industrial Professional Technical Union, to identify possible pension implications and negotiate the scheme’s future structure. The Court recommended negotiations on compensation for buying out the Share Option Scheme and on the remaining issues. Irish Shell had offered to fund independent pension and financial advice for staff, at an estimated cost of up to €42,000.