The British government has announced a $5.8 billion plan to rescue 140,000 workers whose pension plans collapsed. The plan will restore 90 percent of the workers' benefits. Trade unions had campaigned for more than five years to persuade the government to restore the lost savings. In January, the EU's highest court ruled that Britain had failed to meet European Union standards for protecting workers from losing their pensions when their employer goes bankrupt.
December 18, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The British government announced a $5.8 billion plan on Monday to rescue 140,000 British workers whose pension plans collapsed.
Trade unions campaigned for more than five years to persuade the government to restore the lost savings. The plan will restore 90 percent of the workers’ benefits.
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