Written answers

Wednesday, 27 September 2017

Department of Employment Affairs and Social Protection

Defined Benefit Pension Schemes

Photo of Mary ButlerMary Butler (Waterford, Fianna Fail)
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199. To ask the Minister for Employment Affairs and Social Protection the reason persons (details supplied) were not included in the settlement which was reached under a European Court of Appeal ruling approximately two years ago; and if she will make a statement on the matter. [40868/17]

Photo of Regina DohertyRegina Doherty (Meath East, Fine Gael)
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The mediated agreement for former Waterford Crystal workers, covers members of the Waterford Crystal Limited Contributory Pension Plan for Staff and the Waterford Crystal Limited Contributory Pension Scheme for Factory Employees, and provides for the payment of -

(a) a tax-free once-off lump sum of €1,200 for every year of pension scheme service (not company service), not exceeding 40 years, plus

(b) payment of monies in respect of pension scheme service which is payable from the normal retirement date of the scheme members (on a fortnightly basis).

The terms of the mediated settlement are specifically in respect of a particular group of scheme members whose pension benefits were significantly and detrimentally affected by the wind-up of the scheme.

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 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.

I understand that the persons referred to by the Deputy left the service of Waterford Crystal in 1986 and in the early 1990s and received a full refund of their pension contributions under the schemes at that time. The payments made were in full and final settlement of their entitlements under the schemes and were paid in accordance with Pension Regulations then in force. There are no settlements or payments due under the mediated settlement in relation to the persons referred to above.

I hope this clarifies the matter for the Deputy.

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