13.07.2010
The National Electrical Contractors of Ireland (NECI) have asked the leadership of the TEEU (Techicinal Engineering & Electrical Union) to return in excess of €290.000.00 which the Union received from Employee and Employer pension contributions. The vast majority of Employees and Employers had no idea that part of their weekly pension contributions were being diverted to a private limited company.
This private company passed the funds onto the Union in what is described as administrative expenses. Details of the payments to the Union are available in the private company’s returns (attached) to the CRO (Company’s Registration Office) The returns show payments of €4000 in 2002, €25,500 in 2003, €48,640 in 2004, €23,000 in 2005, €60,850 in 2006, €58,400 in 2007 and €72,250 in 2008. The Total amount handed over up to 2008 is €292,640,00.
NECI believe that these funds explain the Zeal with which Union Officials operated in order to ensure that Electrical Contractors enrolled their employees into the pension Scheme. Some employers were forced to make 5 years back payments into the scheme not knowing that some of these payments were being diverted directly to the Union. Employers and Employees were not informed that these payments were optional and in fact the payments are described as “authorised deductions” in the Memorandum of Associations of the private Company. (Copy attached) The funds which have been given to the Union have not been authorised and therefore NECI would call on the Union to return all money to the pension fund.
NECI also call for the Private Limited Company, Pensions & Conditions Electrical Ltd who handed these funds to the TEEU to be disbanded. In a report into the Electrical Industry commissioned by the minister for Trade & Enterprise, it is clear there is no role for this private Company in the Electrical Industry. This private company has taken millions of euro from Electricians and their Employers none of which has been authorised. This Company still has well in excess of €100,000,000 in the bank and this money should also be returned to the Electricians Pension Fund.
|
Related contacts
|
3rd Floor
Bishops Park House,
25-29 Fulham High Street,
London
SW6 3JH
Telephone: (01) 70 70 120
Fax: (00 44) 207 751 3901 |
| For latest electrical industry news, register for Voltimum's free newsletter. |
|
|
Source: NECI Website - 14/06/10 |
|
Back