Unions protest over INM pension cuts
5 December 2016
The NUJ and SIPTU have organised a joint protest today, Monday 5 December, to highlight the scandalous decision of Independent Newspapers Ireland (Limited) to close the company’s defined benefit scheme.
The protest took place at the O’Callaghan Alexander Hotel in Dublin as shareholders gathered for the Extraordinary General Meeting of Independent News & Media Plc at which shareholders were asked to vote for restructuring proposals which pave the way for the payment of dividends to shareholders.
Séamus Dooley, NUJ Ireland secretary, said:
"The aim of the protest is to highlight the scandalous decision of Independent News & Media Plc to force a closure of the defined benefit scheme. The manner in which this decision was taken - without involvement of the trustees, with no consultation with the workers, scheme members or their unions, is a display of arrogance towards those who helped build up this company and towards the Pensions Authority.
INM is determined to break an agreement reached in 2013 with the Pensions Board and the Trustees and is giving two fingers to the regulatory authority. This case highlights the need for urgent reform of the law governing pensions in the Republic of Ireland, a fact illustrated by the fact that INM Plc could not get away with doing this in their Northern Ireland titles.
"In considering the application by INM Plc to purchase the Celtic Media Group Communications, Minister Denis Naughten must consider the record of the applicant in relation to corporate government and industrial relations, with particular reference to equality.
"We hope Denis Naughten takes note of the company’s actions in this matter in deciding the application."