The Annual Report Digest was presented to the Retired Staff Association on Monday 27th. April 2009 by representatives of the ESB assisted by the Actuary. The Association was represnted by members of the National Executive Committee. The Pensioner representatives raised a number of questions. The ESB’s position as stated at the meeting included the following:
- There is no intention to wind-up the scheme.
- There will be no rduction in current payment levels.
- For the future, “everything is on the table!”
The Retired Staff will report back to their Branches and will formulate a position in due course.
Thank you for sight of this publication. I received a copy of the dismal document in this morning’s post also.
I dug out the extract below from my archives -
Extract from Pensions in the Electricity Supply Board
Issued April 1986 by Superannuation Group, Personnel
The booklet “has been specially prepared to provide staff with information about their pension arrangements. Every effort has been made to explain the details as clearly as possible while providing all relevant facts.”
Page 10 Payment and Adjustment of Pensions
18(11) Adjustment of Pensions
Subject to the approval of the Superannuation Committee, pensions are adjusted from time to time. Adjustments are granted in accordance with the
arrangements approved by the Government for Public Service pensions. (See note on next page).
In the case of the majority of pensioners, pensions are adjusted in line with the salaries of serving staff in the E.S.B.- e.g. if a Linesman retires on a pension equal to half of the maximum of the Linesman’s salary scale, his pension will be adjusted from time to time so as to maintain the same relationship with the maximum of the existing Linesman’s salary scale.
—67—
Comment by Ancient Mariner — May 6, 2009 @ 11:32 am
The Annual Report Digest was presented to the Retired Staff Association on Monday 27th. April 2009 by representatives of the ESB assisted by the Actuary. The Association was represnted by members of the National Executive Committee. The Pensioner representatives raised a number of questions. The ESB’s position as stated at the meeting included the following:
- There is no intention to wind-up the scheme.
- There will be no rduction in current payment levels.
- For the future, “everything is on the table!”
The Retired Staff will report back to their Branches and will formulate a position in due course.
Comment by NEC Delegate — May 5, 2009 @ 1:28 pm
Thank you for sight of this publication. I received a copy of the dismal document in this morning’s post also.
I dug out the extract below from my archives -
Extract from Pensions in the Electricity Supply Board
Issued April 1986 by Superannuation Group, Personnel
The booklet “has been specially prepared to provide staff with information about their pension arrangements. Every effort has been made to explain the details as clearly as possible while providing all relevant facts.”
Page 10 Payment and Adjustment of Pensions
18(11) Adjustment of Pensions
Subject to the approval of the Superannuation Committee, pensions are adjusted from time to time. Adjustments are granted in accordance with the
arrangements approved by the Government for Public Service pensions. (See note on next page).
In the case of the majority of pensioners, pensions are adjusted in line with the salaries of serving staff in the E.S.B.- e.g. if a Linesman retires on a pension equal to half of the maximum of the Linesman’s salary scale, his pension will be adjusted from time to time so as to maintain the same relationship with the maximum of the existing Linesman’s salary scale.
—67—
Comment by Ancient Mariner — May 6, 2009 @ 11:32 am