Labour Court recommends three-month pension scheme transfer window at Tara Mines

The Labour Court recommended that New Boliden Tara Mines Ltd give members of its 2010 pension scheme three months to opt into the new defined contribution scheme. The recommendation was signed on 15 April 2019. The Services Industrial Professional Technical Union argued that workers were guaranteed a minimum transfer value of 107% when the defined benefit scheme wound down. The Court rejected that part of the claim, finding no guaranteed minimum for every scheme member. The Court also recommended that the parties resume discussions on the scheme’s future funding, with Workplace Relations Commission assistance if needed.