Originally Posted by Jack1985
Quick question who funds the pension?
You know the answer but I'll play along. It's the same people who fund it in nearly every pension scheme in the world...the employers and the employees. That doesn't create some sort of nefarious conspiracy, it's how pensions work.
@ayroplain - yes EI have had multiple legal opinions to the effect that it's a DC not DB scheme and they are not obliged to put anymore into it. Unfortunately the unions have conflicting advice. Gotta love the lawyers eh?! In a way that is the nub of the issue: EI have legal advice saying you don't owe anything, so if they put money into the scheme shareholders have a legitimate grievance that "their" money is being put into something which doesn't directly improve shareholder returns. That is presumably why management feel they can delivery €140m but no more.