Tara Mines seeks advice on ex-employee benefits

Tara Mines has requested an independent review of income continuance and pension benefits for former employees following recent…

Tara Mines has requested an independent review of income continuance and pension benefits for former employees following recent media coverage which it said led to "confusion and unnecessary anxiety".

It said the coverage incorrectly implied that benefits provided from the pension plan were based on salary at the time of leaving without annual increases.

"We wish to confirm that the pension benefits and death benefits of those people on income continuance are maintained as if the individual remained in employment.

"Pensionable salary is based on salary at the time of leaving, escalated annually in line with actual pay increases of Tara Mines Limited employees, as per the national wage agreements," Tara Mines said in a statement.

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The company said that it is writing to each member on income continuance during the coming week explaining the details of their benefits.

In addition, each individual is being offered one-to-one advice, it said.