Maroc - NEWSDAY.CO.TT - A la Une - 24/Sep 19:07

Thousands to benefit from TSTT, CWU pension agreement

THE Telecommunications Services of TT (TSTT) and the Communications Workers’ Union (CWU) have signed a memorandum of agreement (MOA) designed to resolve decades-long pension issues affecting some 2,500 employees and retirees. The MOA signing took place in a ceremony at the TSTT Oval Box, Tragarete Road, on September 23. The agreement unifies two separate pension plans – those covering former Telco employees and TSTT staff – into one. It also provides for enhancements to benefits, including a minimum pension uplift and reimbursement of excess contributions. Both parties said the agreement will bring significant relief to retirees and ensure sustainability for the company’s workforce. However, detailed financial terms were not disclosed. TSTT's acting chief executive officer Keino Cox called the signing "historic" and reflected on the decades of service that had led to the moment. "Today represents the culmination of decades of cumulative years our pensioners have dedicated to this organisation – the years of service, the late nights and the sacrifices made are remembered and honoured with dignity in the years ahead," he said. Cox outlined four themes to mark the occasion. "This MOA is the culmination of over five years of work, beginning in the middle of the pandemic. "Today’s signing marks a historic agreement with the CWU: one that delivers long-awaited pension enhancements and sets the foundation for uniting the two plans into what we will call One Plan. It will benefit more than 2,500 pensioners and beneficiaries, while creating a single, sustainable structure for the future." He added that the agreement honours the people who built the company. "As the only indigenous provider in TT, TSTT was shaped by the men and women who laid cables, built exchanges, served customers and gave decades of their lives. Our pensioners are not just beneficiaries of this plan; they are the foundation upon which TSTT stands." Speaking on collaboration, Cox said, "Pension reform has long been complex and difficult. But through trust and good faith, the company and the CWU proved what can be achieved when we work together with shared purpose." He also described the measures in the agreement as "tangible demonstrations of respect," noting, "They send a clear message to our pensioners: your service mattered, your contribution endures, and your well-being remains our concern." CWU Secretary General Joanne Ogeer said the agreement was the product of a decade-long struggle. "The MOA is a document which captured the negotiated enhancements for our retirees and their beneficiaries. "Due to the details, the union and the company have decided not to disclose any details to have retirees unnecessarily targeted." She offered special commendation to Kent Western, who, while under his tenure as CEO, "reopened the conversation with me and brought this matter to an end. "Immense appreciation is being tabled to our acting CEO, Mr Keino Cox and the esteemed board of directors on its ratification and approval. "It is for these reasons that retirees, after a decade-long struggle, have borne fruit." Ogeer said the union welcomed the relief the agreement would bring to pensioners who had "built the company" and reaffirmed her commitment to continued dialogue with TSTT. TSTT chairman Kern Dass said what began as "difficult conversations" had now been transformed into a firm commitment. "On behalf of the board of directors, I wish to place on record all recognition, support, and sincere thanks to TSTT’s executive leadership. "Their perseverance, strategic guidance and commitment were instrumental in navigating the complexities of these negotiations and bringing us to this milestone," he said. Dass also credited the CWU and trustees for ensuring the solutions were financially sustainable. "Today’s achievement underscores the power of collaboration, patience and mutual respect. "It demonstrates that when labour and management, guided by technical expertise and administrative diligence, work together in good faith, we can achieve outcomes of lasting benefit." The MOA is expected to resolve longstanding disparities between the Telco and TSTT plans, an issue that has reportedly been a source of frustration for more than a decade. It also promises a more transparent and sustainable structure for current employees. Both sides pledged ongoing collaboration as the provisions are implemented in the coming months. The post Thousands to benefit from TSTT, CWU pension agreement appeared first on Trinidad and Tobago Newsday.