Settlement Agreed For Waterford Crystal Staff

An agreement has been reached in relation to the long-running Waterford Crystal pension case.

Under the deal, the former workers of the factory will receive "significant pensions" and a tax-free lump sum. The measures are compensation for the "delay and stress involved in bringing Irish and European Court cases to resolve the matter".

Tánaiste and Minister for Social Protection, Joan Burton TD, today confirmed Government approval for a mediator set of recommendations to settle the dispute.

In a statement, Ms Burton said that a number of legislative and procedural issues are now being put in place and will be finalised early in 2015, with a view to paying the lump sums paid as early as possible next year, while the pension payments would start by the middle of the year.

The settlement will be for all 1,774 deferred members of the Waterford Crystal Staff and Factory Pension Schemes.

Tánaiste Burton commented: "I am very pleased to announce today a resolution for the Waterford Crystal workers and their families, subject of course to the workers balloting on and accepting the proposals. I hope this will bring security and peace of mind for them in the certain knowledge that their pension entitlements are now secure."


Related Irish News Stories
Click here for the latest headlines.

31 January 2020
SF Manifesto 'Double-Hit On Public Sector Workers' - FG
Fine Gael have described Sinn Féin's manifesto as a "double-hit on public sector workers". Making the criticism, Minister of State Patrick O'Donovan said: "For the past ten years, Sinn Féin have proposed cutting the tax relief available on pension contributions from 40% to 20%.
04 December 2019
Miners Protest Postponed In Co Meath
Tara Mines workers in Co Meath have postponed a scheduled protest in Dublin following confirmation of a drastic reduction in their flat rate expenses. Workers at the zinc and lead mine were due to take action outside Leinster House in Dublin today, 04 December, over the expense implementation due in the New Year.
03 February 2020
FF Call For Minimum Sentences For Convictions For Assaulting Hospital Staff
Fianna Fáil have called for minimum sentences for anyone convicted of assaulting hospital staff and frontline emergency workers. Spokesperson on Health, Stephen Donnelly, made the call as the HSE confirmed that there were at least 1,000 assaults on hospital staff last year – a figure that the INMO says is just the tip of the iceberg.
20 December 2019
Workers Deserve Living Wage - SF
A small increase in the minimum due to be introduced in February has been been described as "not enough" by Sinn Féin's spokesperson on Jobs, Workers' Rights and Pay Equality, Maurice Quinlivan.
14 August 2015
Former Waterford Crystal Workers Receive €180m Settlement Offer
Former Waterford Crystal workers have received letters confirming settlement payments of €180 million bringing to an end their long-running pension battle. The Department of Social Protection issued the letter on Wednesday, confirming the pension settlement and lump sum payouts.