Independent News & Media confirmed following a board meeting today that discussions with pension trustees in relation to the restructuring of pensions are ongoing.

Two weeks ago, the company informed the trustees of the INM defined benefit pension scheme that it would no longer be contributing to the scheme - despite reaching a ten-year restructuring agreement for the scheme in 2013.

In a statement this evening INM said: "The company reiterates that it will continue to make a significant pension funding contribution of €11.1 million per annum from 2013 to 2023.

"The total projected investment from 2013 to 2023 is circa €115m. Any funding being made under the defined benefit schemes will continue to be made to the defined contribution scheme."

Last Friday INM management met with the pension trustees and made a proposal, which has not yet been revealed.

However, it is understood trustees are seeking a legal commitment from INM in relation to the offer.

Trustees are due to meet with trade unions tomorrow to discuss the issue further.