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CCNTV6
  • 1 year ago
Matters of industrial relations continue to make headlines, this time; retirees of former state entity Petrotrin are adding their voice. They say the current state of their pension plan is in jeopardy and took their frustration to the doorsteps of the Petrotrin Pension Plan Trustee, Republic Bank.
Transcript
00:00Pension, dry it out, fix the pre-pension, be prouder to hold on.
00:08Former pension trade employees voicing their concern outside the Park Street office of
00:12Republic Bank on Friday. According to the Oilfield Workers Trade Union, a letter was
00:17sent on October 28, identifying a major deficit within the pension plan.
00:23We would have well ventilated the issue, which is a deficit in excess of $4.2 billion.
00:30And a plan that is set to expire before 2014.
00:34That would leave in excess of 9,000 workers on the breadline.
00:39Professor Jackman sent the letter asked for dialogue
00:42to find out how exactly the bank intends to deal with the deficit.
00:47To this date, we have received no response from Republic Bank.
00:51To this date, we haven't even received an acknowledgement from Republic Bank.
00:56And they are the people that are currently charged with managing $7 billion of our money.
01:06So we would have returned here today demanding answers.
01:10The OWTU is adamant that it will not give up the fight and congratulated those who turned
01:15out for the protest. In response to the union's concern, an official at Republic Bank,
01:21J.P. Clark, General Manager of Wealth, spoke with representatives
01:26and promised to provide feedback in one week's time.
01:30Aksha Galston, TV6 News.
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