900 members of SIPTU, Ireland’s largest trade union, working in Pfizer’s Cork plants have voted to take industrial action over a dispute regarding changes to their pension schemes.

Defined Contribution Pension Scheme

The strikes come after the pharmaceutical multinational announced that it will be changing from its current non-contributory Defined Benefits pension scheme to a Defined Contribution pension scheme, meaning that employs will now have to start making contributions towards the benefits they receive.

The planned 24-hour stoppage is scheduled to take place on 15th February at the Ringaskiddy plant. Further action will be taken on the following Monday the 18th, when both the Ringaskiddy and Little Island workers in Cork will cease working.

Further Strikes if Necessary

In addition to the planned strikes in mid-February, an indefinite ban on overtime will be implemented from February 16th. SIPTU has warned that further interruptions may take place over the coming weeks if deemed necessary.

The planned striking actions will proceed despite the recommendations of the Labour Court that they not go ahead. The union members believe that they have been left with no alternative but to take industrial action, contending that Pfizer employees in other countries have been granted permission to retain their Defined Benefit schemes.

Disappointing and Disproportionate

While members of SIPTU are campaigning for the changes not to be enacted, Pfizer claims that the cost of funding the Defined Benefits scheme has risen 1000% since 2009, and that the proposed Defined Contribution scheme would provide benefits equally valuable to those already in existence that with the Defined Benefits scheme.

In response to the proposed strikes, a spokesperson for Pfizer has stated that it is “disappointed that the outcome of the union ballots support industrial action, which is disproportionate”. 

Speaking to Your Solicitor

Should you feel uncertain about your rights as a worker or the details of your pension, speaking with your solicitor can help clarify any confusion you may have.

* In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement. *

900 members of SIPTU, Ireland’s largest trade union, working in Pfizer’s Cork plants have voted to take industrial action over a dispute regarding changes to their pension schemes.

Defined Contribution Pension Scheme

The strikes come after the pharmaceutical multinational announced that it will be changing from its current non-contributory Defined Benefits pension scheme to a Defined Contribution pension scheme, meaning that employs will now have to start making contributions towards the benefits they receive.

The planned 24-hour stoppage is scheduled to take place on 15th February at the Ringaskiddy plant. Further action will be taken on the following Monday the 18th, when both the Ringaskiddy and Little Island workers in Cork will cease working.

Further Strikes if Necessary

In addition to the planned strikes in mid-February, an indefinite ban on overtime will be implemented from February 16th. SIPTU has warned that further interruptions may take place over the coming weeks if deemed necessary.

The planned striking actions will proceed despite the recommendations of the Labour Court that they not go ahead. The union members believe that they have been left with no alternative but to take industrial action, contending that Pfizer employees in other countries have been granted permission to retain their Defined Benefit schemes.

Disappointing and Disproportionate

While members of SIPTU are campaigning for the changes not to be enacted, Pfizer claims that the cost of funding the Defined Benefits scheme has risen 1000% since 2009, and that the proposed Defined Contribution scheme would provide benefits equally valuable to those already in existence that with the Defined Benefits scheme.

In response to the proposed strikes, a spokesperson for Pfizer has stated that it is “disappointed that the outcome of the union ballots support industrial action, which is disproportionate”. 

Speaking to Your Solicitor

Should you feel uncertain about your rights as a worker or the details of your pension, speaking with your solicitor can help clarify any confusion you may have.

* In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement. *