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Flemish government aids VRT fund

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  • Flemish government aids VRT fund

BELGIUM - The Flemish government in Belgium has announced it will pay a yearly sum of €10m into the pension fund of public broadcaster VRT, following "structural financial shortages" at the organisation.

In a statement on its website, the government said the VRT's corporate contribution to its €400m pension fund for statutory personnel - which belongs to the first rather than the second pillar - will be replaced with a yearly state contribution.

From this year, the Flemish government has pledged to pay €10m per year for the VRT's pension arrangements until 2010, when a review is scheduled.

"These intercessions are necessary to get rid of the structural financial shortages at VRT that have arisen following disappointing turnovers," according to the statement.

The broadcaster has a second, smaller pension fund for contract employees.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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