14/08/2015

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.

Welcoming the news Labour TD for Waterford, Ciara Conway, as a great day for Waterford city and county, she paid tribute to workers, past and present, who "fought relentlessly to secure the settlement".

"I appreciate there was a lot of frustration with the time frame involved in getting to this point but I am delighted that we are now nearing closure on this issue. There is a lot of money involved that will not only benefit the recipients and their families but will also make its way back into the economy providing a huge boost locally," Deputy Conway said.

The letters advise the workers that they should consider the offer made and if they wish to accept, to sign and return the papers to the Department.

Where a person has signed and returned the papers to the Department, payment will be made as soon as practical once all legal proceedings with which the individual has been associated have been withdrawn.

This case arose as a consequence of the Waterford Crystal company being found insolvent and its occupational pension schemes being wound up with deficits in 2009.

(MH/LM)

Related Irish News Stories
Click here for the latest headlines.

15 January 2020
Govt To Alleviate Pressure From Childcare Providers
The Department of Children and Youth Affairs is to implement a number of new, short-term measures to support childcare providers. Actions will be taken to support companies in the regulatory environment and ensure a better customer service is delivered.
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.
09 December 2014
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".
29 July 2011
Former Irish Times Editor Dies
Journalist Ella Shanahan, has passed away in her County Waterford home. Ms Shanahan, 60, was the former London Editor of The Irish Times. She will also be remembered for her work in the RTÉ newsroom in the 1970s.
15 December 2014
Former Waterford Crystal Workers Accept Pension Deal
Former workers at Waterford Crystal have voted to accepted a pension deal proposed last month by the government. The former employees voted on Sunday to accept the pension deal, that will see them each receive a one-off payment of around €40,000.