Grafton slashes pension deficit after retirement deal

Building supplies company Grafton has dramatically reduced its pension deficit after winning agreement from employees to take a hit on their retirement plans.

21st September, 2013

Building supplies company Grafton has dramatically reduced its pension deficit after winning agreement from employees to take a hit on their retirement plans.

The deficit fell from €53.9 million at the end of 2012 to €13.6 million at the end of the first six months of 2013, according to its most recent financial statement.

The company's roughly 2,000 Irish staff have agreed to exclude any salary increases over the next five years from the calculation of their...

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