Eircom gets go ahead to tackle pensions crisis

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IRELAND - Workers' unions at the Irish Republic's biggest telecoms operator firm Eircom have approved a major pension restructuring programme, eliminating a €407m (US$502.8m) defined benefit scheme deficit at the troubled firm.

The agreement limits the future growth of pensionable pay for the 5,500 active members of the scheme, while placing a floor under the company's contributions for the next three years. "These cha...

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