The Labour Court recommended that Kraus and Naimer Production Limited provide €350 per year of service for each member losing the company’s defined-benefit pension scheme. The recommendation was signed on 13 November 2013. The Services Industrial Professional Technical Union and Technical, Engineering and Electrical Union sought compensation after the company said it could no longer fund the scheme. The Court considered the unions’ claim reasonable and recommended that the money be invested in the new defined-contribution scheme on its inception, rather than paid directly to individuals.
Labour Court recommends €350 per service year for pension scheme members
Historic decision · Decision date:
Place: no local area assigned from the source.