Pension scheme to be wound up

A DECISION has been made to wind up a pension scheme for journalists in regional newspapers.

The Executive Council of the Regional Newspaper Association of Ireland (RNAI) has rejected a recommendation by the fund actuary to increase the employer contribution level from the current 6.9% rate to 18.7%.

In a note to members yesterday the National Union of Journalists (NUJ) said: “The consequences of this action will be that the trustee will be forced to wind up the RNAI/NUJ pension scheme, with grave implications for our members in the lucrative regional press sector.”

An emergency meeting of the General Purposes Committee of the NUJ’s Irish Executive Council has been called for Monday.

In the meantime RNAI chapels have been told not to take part in any briefings on this subject.