superann2u2

What’s happening, you may well ask. Well, there’s a lot happening but little in the way of substantive outcomes as yet.

From our perspective as retired staff, pensions and pension crises are the issues. There appears to be no immediate threat to the amount of your pension cheque. So we are told in any event. But there’s a storm blowing out there with unknown threats to us all.

Following the last full assessment of the Superannuation Fund which was carried out at the trough of the world financial debacle, there was what could be considered a well orchestrated panic and attempts to abandon established schemes and long-standing models of pension provision. That said, there is a problem with a significant current deficit and a requirement from the Regulator to show within the current year how this matter will be addressed.

The major players in this matter are the company (ESB) the trade unions (Group of Unions) and the pensioners – you and me! A major problem from our perspective is that while the company and the unions are engaged in the matter of finding a solution our request to be included even as observers at the meetings, was refused by both parties- we are not a union we are told. There is something in this when you consider that we have not sought a mandate from members, the focus is more social than industrial in some branches and our structures as an organisation are a bit quaint and not best suited to the purpose. Nonetheless, the major branches are well organised and are actively dealing with the issues.

While our written request for at least observer status was unequivocally refused, some meetings took place with both parties and we received assurances that we would be consulted by each of the parties as matters progressed and no final decision would be taken without at least hearing us out.

Our position remains rooted in legitimate expectations based on documentation published consistently over the years and confirmed routinely by custom and practice. The resources available are not inconsiderable and the value of investments is steadily improving.

Following a long pause in the negotiations, the parties have apparently agreed a process and a series of meetings are scheduled for January. If and when some progress is reported, it will be passed on to members. If warranted, general meetings will be notified to allow discussion of the issues. Tentative arrangements for such meetings have already been agreed by major branch committees.

Watch this space!

Incidentally, you can also get further insight into the association’s involvement from correspondence published elsewhere on this site. You will understand that not all correspondence is suitable for airing through this medium. Comment is most welcome.

Billy Kelly

Chairman, Head Office Branch