Labour Minister Jennifer Baptiste-Primus says former workers of ArcelorMittal could receive money from their UTC savings plan by today or early next week.
She said that during yesterday’s post-Cabinet news conference at the Office of the Prime Minister, St Clair. More than 600 workers of the Point Lisas-based steel plant lost their jobs when the company closed operations in T&T last month.
Baptiste-Primus said the issue of severance payment did not arise because of the manner in which the company was shut down.
She dismissed a claim by the general secretary of the National Trade Union Centre, SWWTU president Michael Annisette, that the Government could pay the workers severance benefits under the Company’s Act. Baptiste-Primus said she sought legal advice on the matter and it was determined that claim was not true.
Baptiste-Primus said the workers have already been paid outstanding money by the company in a matter relating to their retrenchment following a ruling by the Industrial Court.
She said a liquidator had also been appointed to deal with the outstanding matters relating to the closure of the company.
Dealing with the issue of the payment of the workers pension plan, she said because of the capital involved “it is unlikely that one insurance company can carry that load and therefore they will have to look at a consortium of companies to address the issue of the pension plan.”
The workers, represented by the Steel Workers Union of T&T, insist they must get their pension refund.