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Pension Bonus of Nkr40 million to some SAS officials while other face cuts

Sunday, 02 December 2012
SAS employees are forced to accept cuts in wages and pensions for a deal that was to design such that the company would not go into the gutter. But a handful of SAS officials are reported to have to receive extra pension payment of over Dkr42 million.

This was part of SAS 'crisis plan which was that workers salaries had to be cut and also the retirement age had to be raise as well as staff were to be put into a less favourable pension plan. But there are some members of staff that are not affected by the axe, writes the Norwegian business daily, Dagens Næringsliv.

Those hard hit are employees of the ground services, SAS Ground Handling, which will be sold, the paper writes

Leaders in the Danish part of SAS Ground Services have secured a special deal, which was signed in conjunction with when the workers went over to negotiate about their own benefits for the company to remain in operation. They are entitled to compensation if the ground services are no longer a part of SAS ==> image from Dagens Næringsliv.

The workers are not paid cash but would get this as an extra payment into their pension fund, according to Investor Relations, in SAS, report the paper.

The amount was given at the end of 2010 was in the region of Dkr42.4 million, according to the annual report of the company. It is unclear exactly how large the amount is today.
by Scancomark.com Team

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