ICTU urges Independent News and Media pension plan appeal

The Irish Congress of Trade Unions (ICTU) has urged Independent News and Media (INM) pension fund trustees to appeal the company’s plan to close its defined benefit pension scheme to the High Court.

ICTU general secretary Patricia King made the call at a press briefing jointly hosted by Siptu and the National Union of Journalists (NUJ) ahead of yesterday’s shareholder vote on INM’s balance sheet restructuring plans.

INM comfortably passed at that EGM, thanks to proxy votes’ resolutions, to write off €1.1bn of legacy losses related to previous asset investments in the UK and Australasia.