Redundant Goodyear Workers Lose Out
Thousands of Goodyear workers will lose out on their share of a £1 million repayable sickness fund because they were made redundant reports a Wolverhampton newspaper.
Workers who lost their jobs before October 2003 will not be eligible for a £1,150 payout from the Goodyear Relief Society, which has now been dissolved.
According to the news source only 946 employees will share the pot, irrespective of how long they have paid into the scheme. This means that thousands of staff who paid contributions to the fund for up to 40 years will get nothing because they were not on the payroll when the society was dissolved.
Fund chairman Cyril Barrett said he wanted to give the cash to charity but was told it was not allowed under government rules. Mr Barrett is reported to have said that he felt sympathy for those who had lost out, but explained the society had followed rules set down by the FSA.