An Post pension deficit ruling due

An Post expects a ruling from the Pensions Board regarding its pension deficit solution agreement within the next month.

The State-owned postal services provider agreed a deal with its unions months ago to tackle its pension fund deficit — €229m at the end of last year — and submitted it for approval to the Pensions Board in recent weeks. A company spokesperson said that word is expected within the next month or so.

The solution, in part, will see a mortgage, relating to certain property assets of the company, put in place for use as a contingent asset of the scheme.