Labour Court recommends pension scheme at Balcas

The Labour Court recommended that Balcas introduce a defined contribution pension scheme with matching employer and worker contributions, after a dispute with the Services Industrial Professional Technical Union. It said the parties should agree a timetable for introducing the scheme. The union sought the scheme after negotiations stalled over the employer's contribution. Balcas said a slowdown in construction and the strength of the euro had affected its competitiveness and its ability to meet the cost. The recommendation was signed on 5 June 2008.