Unrest as Arnotts plans to wind up pension scheme

Industrial unrest is brewing at Dublin department store Arnotts where the pension scheme is to be wound up meaning “upwards of 50%” of entitlements for existing workers could be lost.

Trustees are due to hold three briefing sessions with the almost 1,000 people who are part of the scheme. About 300 existing pensio-ners’ entitlements will be protected.

However, deferred pensioners — former Arnotts staff — and 300 existing staff could, according to John Douglas, Mandate general secretary, lose “upwards of 50% of their entitlements”.