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.”