Written answers

Tuesday, 20 June 2017

Department of Social Protection

Pensions Insolvency Payments Scheme

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein)
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2074. To ask the Minister for Social Protection the reason pre-1992 persons formerly employed at a company (details supplied) are not entitled to compensation regarding pension entitlements; the terms of settlements that were previously reached regarding these persons; and if she will make a statement on the matter. [28500/17]

Photo of Regina DohertyRegina Doherty (Meath East, Fine Gael)
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Former workers who left the service of Waterford Crystal in the early 1990s received their full pension entitlements in relation to pre-1991 service under the schemes at that point. In line with the rules of the company’s pension schemes at the time and the Pensions Act, 1990, such persons had the option to choose whether to take a deferred pension in respect of full service with the company or a refund of pre 1 January 1991 contributions and a deferred pension in respect of post 1 January 1991 service.

The payments made at that time were in full and final settlement of their entitlements under the schemes and were paid in accordance with pension regulations then in force. The Department does not have information on the settlements reached in relation to pre-1991 service as these were matters between the pension scheme and its members at the time.

Subsequently, some of these individuals took a case against Waterford Crystal Limited and Irish Pensions Trust Limited and my information is that this case was settled in December 2009 on terms that were satisfactory to both parties. The Department does not have any information on settlements reached under this case.

Former workers who took a refund of contributions in respect of their pre-1991 service did not have any entitlement to a benefit under the Waterford Crystal Pension Factory and Staff Schemes at the date of their wind-up in relation to their pre-1991 service. Accordingly there are no settlements or payments due under the mediated settlement in respect of such pre-1991 service.

I hope this clarifies the matter for the Deputy.

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