The Labour Court recommended on 17 January 2014 that Shannon Aerospace Ltd and the Services Industrial Professional Technical Union negotiate over the company’s proposal to close its defined benefit pension scheme and replace it with a defined contribution scheme. The Court called for good-faith, without-prejudice talks lasting no more than two months, including exploration of possible compensation. If the sides did not reach agreement, outstanding matters could return to the Court. Shannon Aerospace should continue funding the existing scheme while talks and any further adjudication were pending, with the status quo maintained on both sides.
Labour Court recommends talks on Shannon Aerospace pension scheme
Historic decision · Decision date:
Place: no local area assigned from the source.