A Dutch court has ruled unfavourably towards 900 pensioners in a pensions surplus case against the dairy products group of Dutch corporation Wessanen.
The pensioners argued that Dfl2.5m (e5.7m) of pension surplus returned to the company upon liquidation should have been given to them, as the alternative insurance scheme provided did not match their former pension plan.
Luis Kuypers, the Amsterdam- based lawyer representing the pensioners, comments: “The court decided the pensioners had no rights to claim indexation on their pensions, hence they had no right to the surplus set aside by the pension fund to cover future pensions indexation.”
He says the pensioners are considering the possibility of an appeal.
“The decision in this type of case can often depend on the view of the adjudicator over whether he has to protect the pensioners or just apply the law as it is.”