Lessons must be learned - Waterford pension deal

At the end of a long working life, the very least former employees have a right to expect is that they will receive their pension entitlements.

However, as 1,700 former Waterford Crystal workers learned to their cost, that dream can become a nightmare if things go wrong. They were left with nothing when the firm and its pension scheme became insolvent.

Already reeling from a succession of closures, the decline and closure of Waterford’s historic, albeit troubled flagship industry dealt a bodyblow to the morale of the city and county. The catastrophe of its final closure in 2009, left the workers and their union no other choice but to engage in a relentless battle, going as far as the European Court of Justice where it won a landmark victory effectively securing their rights. The good news is that a pension deal for the former crystal employees will be discussed by the Cabinet tomorrow and signed off by the Government on Thursday. It clears the way for a vote by ex-Waterford workers on a package including a payment of €1,000 per year of service without affecting their social welfare rights.