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Labour Court recommends United Beverages fund pension scheme shortfall

By Niamh Kearney

Labour Court ·

The Labour Court recommended that United Beverages Sales Limited (Dublin) pay the additional amount needed to maintain its pension scheme funding. The recommendation, signed on 3 March 1997, followed a dispute with the Services Industrial Professional Technical Union. A 1995 actuarial valuation said contributions of 7% of salary were needed to maintain existing benefits; employer and employee contributions were then 2.5% each. The company proposed raising its contribution to 3.5% if employees did the same. The Court also recommended discussions on future funding and pension improvements, with the pension booklet to be amended if the parties reached agreement.

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