NETHERLANDS - The members of the Unilever pension scheme are taking the fund's board to court over allegations of insufficient inflation-based increases.
Should the court decide in favour of the members, the €4bn (US$5.8bn) fund may be forced to make additional, top-up contributions.
Unilever has faced criticism for the way in which it has handled pension funds in the past. UK pressure group Committee of Unilever Pensioners (COUP) said it was unhappy with the creation of Univest, a pooled investment vehicle into which over a fifth (22%) of the UK scheme has been placed, alongside a similar number from the Dutch fund.
In a statement on its website, COUP said it had misgivings about the amount of control ceded to Univest, thereby undermining the ability of the trustees to do their duties and added, as the largest of the investing funds, it had failed to see any benefit from the pooled approach.
At the time of going to press, Unilever was available for comment.
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