|
|
Article: Arnotts'pension rings up surplus
- Article from:
- The Irish Times
- Article date:
- August 14, 2009
- Author:
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
|
WHILE MOST pension funds in Ireland strain under the weight of
their deficits following the collapse of property and stock market
investments, the Arnotts staff scheme continues to ring up hefty
surpluses.
Accounts for Arnotts Holdings Ltd, which were filed recently,
show the staff pension fund had a surplus of [euro]90.4 million at
the end of January 2008.
Admittedly, this was down from [euro]111 million a year earlier
and came before the financial sector crash, but it was sufficient
for the trustees to rubber-stamp a distribution of [euro]59.1
million equally between the scheme members and Arnotts Ltd last
year. The company received its [euro]29.5 ...