Labour Court recommends pension and share-plan terms in Esso Topaz dispute

The Labour Court recommended acceptance of Esso Topaz Energy Group Limited’s pension and share-plan proposals in its dispute with the Services Industrial Professional Technical Union. The recommendation was signed on 19 February 2016 and applies to 15 claimants previously employed by Esso Ireland Limited. The union sought compensation over changes to the pension scheme and employee share plan, and wanted future employment-term changes agreed in advance. The employer proposed an 18% contribution to the defined-contribution pension scheme, with a 3.5% employee contribution, and alternative share-plan arrangements including an option for additional matched 5% contributions. The Court found the proposals fair and reasonable and recommended their acceptance, seeing no merit in compensation or a need for an actuarial assessment. It also recommended that the parties follow the employer’s stated consultation and dispute-resolution processes if future employment-term changes arose.