ESB statement in pension dispute ‘irresponsible’

//ESB statement in pension dispute ‘irresponsible’

ESB statement in pension dispute ‘irresponsible’

The threatened strike at ESB was averted after talks, but a new row over an ESB statement rumbles on

An ESB statement following an agreement in the pensions dispute at the Labour Relations Commission between management and unions has been described as “irresponsible”.

Acting General Secretary of the Technical, Engineering and Electrical Union said the statement ignored what had been stated in the LRC agreement in relation to the pension scheme.

Speaking on RTÉ’s Morning Ireland, Arthur Hall said the agreement stated that the scheme was a defined benefit scheme.

He said it stated that should deficits arise the established practice would be that the parties engage with each other to agree arrangements to deal with the deficits.

He called on Minister for Communications, Energy and Natural Resources Pat Rabbitte to call in ESB management and tell them to read the agreement they had signed.

The threatened strike action at the ESB was averted following talks last night.

But a new row broke out about the terms of the settlement reached.

The ESB statement said no further liabilities will be added to the company’s balance sheet as a consequence of the company pension scheme being treated as a defined benefit scheme.

ESB Group of Unions secretary Brendan Ogle said unions believed that treating the scheme as a defined benefit scheme would involve adding a minimum of €369m to the balance sheet. 

RTÉ News – News Headlines

By | 2013-12-09T10:58:05+00:00 December 9th, 2013|Headlines|0 Comments