Up to 200 Richardson's Fertilisers workers who lost their pensions in 2002 when the company folded are to receive Government compensation.
Former employees within 15 years of retirement will benefit - with some receiving 80 per cent of their expected pension.
In 2002 Richardson's announced it was going into liquidation with the closure of plants in Belfast, Cork and Arklow.
Department of Work and Pensions Minister Lord Hunt told Lord Laird in a written answer: "I can confirm that the staff retirement benefits plan of Richardson's Fertilisers is a qualifying scheme for the purposes of the Financial Assistance Scheme.
"Members within seven years of scheme pension age on May 14th, 2004 will benefit from FAS topping up of their pensions to around 80 per cent of their expected core pension."
Richardson's had a plant in north Belfast. Workers held a sit-in protest there in November 2002 after learning the company had gone bust.
They were dismayed to discover that the Irish Government, the 51 per cent shareholder, and British multinational ICI, the 49 per cent shareholder, had decided not to pay redundancy in accordance with standing agreements.
The Irish Government and ICI instead announced that they would pay a total £17.8 million severance package to the workers in their plants in Belfast, Arklow and Cork.
Workers refused to accept the offer and held protests outside the offices the Minister for Enterprise Mary Harney.
Amalgamated Trade and General Workers` Union officer Maurice Cunningham gave a guarded welcome to the news.
"This identifies problems with the private pensions system which need to be addressed," he said.
"There are a number of people who have suffered in the last number of years during this, in fact there are people who have died without knowing if they were going to receive money.
"The main thing about this is that the two shareholders, IFI and the Irish Government, have not had to pay this."