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Theft of dockers' pensions must be made good

4 June 2008

Theft of dockers' pensions must be made good

SP Member of Parliament and spokesman on labour affairs Paul Ulenbelt took part in a protest march through Rotterdam on Wednesday along with hundreds of active and retired dock workers. The march was in protest against the retaining of millions of euros of pension money by the insurance firm Optas and Aegon. Work in the harbour ceased for an hour as the marchers crossed the Erasmus Bridge to the court where a judicial hearing was hearing witnesses.

Paul Ulenbelt (second from right) demonstrates alongside the dock workers
Paul Ulenbelt (second from right) demonstrates alongside the dock workers

The pension fund in the docks was privatised some time ago and transferred to the pensions and insurance provider Optas. Optas had over € 700 million euro in hand in 'restricted capital', intended for the inflation correction of the pensions. Another firm, Aegon took over Optas, including this restricted capital, paying €1.3 billion. Now Optas is seeking to use this money to invest in works of art, rather than to improve pension levels. Dock workers, the international trade union movement, dock employers and a majority of Members of Parliament insist that the money be paid out to the dockers themselves.

Paul Ulenbelt (centre of picture) on the march with the dockers
Paul Ulenbelt (centre of picture) on the march with the dockers

The SP unreservedly supports the struggle of the workers and their unions for a decent pension. "What Aegon and Optas are doing is white collar crime of the worst kind," says Paul Ulenbelt. "The shadowy game being played by the insurance firms has robbed the dock workers of their pension rights. This money now threatens to be spent on Picassos rather than pensions. If Aegon and Optas continue to refuse to increase the pensions of 60.000 dockers in line with inflation, the SP will be bringing forward a proposal for a change in the law which will compel them to do so."

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