Bank of Ireland calls for dialogue in pensions dispute

Bank of Ireland has this evening expressed its dismay at the upcoming industrial action by the Amicus union.

The strike set tomorrow follows day-long talks at the Labour Relations Commission, which failed to make progress on the dispute regarding the bank’s pension scheme for new employees introduced on October 1.

“This action by Amicus is all the more regrettable as the Bank believes it is possible to make progress on the particular issues raised by the union,” said spokesman for thebank.

“This dispute can be resolved by dialogue not by industrial action and we again appeal to Amicus to engage in constructive discussions in the interests of the employees they represent.”

The bank again emphasised that it was committed to providing market leading pensions for all of its employees, stating: “For 16,000 Bank of Ireland employees there is no change to their pension arrangements.

“New employees since October 1 are benefiting from an attractive new scheme that is demonstrably better than our main competitors in the Irish market, all of whom operate defined contribution schemes.

“The new Bank of Ireland scheme is progressive and has the potential to realise the same benefits for employees on retirement as the current scheme.

“This is not a cost saving issue – it is about securing the future pension arrangements for all employees.”

About 200 staff in the Bank of Ireland Life business will be involved in the industrial action. The bank has assured customers that disruption to its normal services should be minimal.

Amicus represents over 300 employees out of 16,000 staff in Bank of Ireland.