€71.5 million stripped from the Waterford economy

Dum_Dum_2

https://www.rte.ie/news/primetime/2024/0502/1447094-shattered-crystal-former-workers-still-battling-for-pensions/

"Walter Croke received a payment of €22,000. That figure was significantly less than the €179,121 loss he suffered by signing away his pension rights, according to an actuarial calculation prepared to support his court case."

"Walter Croke and about 400 other workers were not included in that deal because they were deemed to have signed away their pension rights."

400 of them

400 x €179,121 = €71,648,400

So €71.5 million stripped from the local economy.

Wanderer78

https://www.boards.ie/discussion/2058350112/71-5-million-stripped-from-the-waterford-economy

…would all of it truly been spent into the local economy, or would some of it been spent else where, including online and abroad etc…..

…some kick in the stones for those involved though….

Hindsight as they say is 20/20 vision!

https://www.boards.ie/discussion/2058350112/71-5-million-stripped-from-the-waterford-economy

very simple maths which is very wrong.

what about the boost to the economy from taking the pension refund at the time.

Dum_Dum_2

https://www.boards.ie/discussion/comment/122095324#Comment_122095324

Not just simple maths but very simple maths. Not just wrong but very wrong. OK.

The loss is €179,121. We are told this particular gentleman is fairly representative and that there are 400 of them. Where am I going very wrong?