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.
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