Yesterday Petrotrin dismissed the memo as false information.

The state owned company said the document does not represent the current state of affairs with Petrotrin’s pension plan.

Via a statement, Petrotrin said even the date of the letter was inaccurate.

Petrotrin also noted the information presented gives a false impression as all of the concerns raised in the letter are being or have been addressed.

Petrotrin assured it will meet the pension plan obligations.

The energy company said it has aleady met with the Pension Plan Management Committee and with the trustees Republic Bank, to determine the best way forward.

Further the company said that it was agreed that the plan would not be wound up, as to do so would be impractical.

Petrotrin said it will therefore remain a closed plan that will be carefully managed going forward as it is committed to ensuring that the plan’s obligations are met.