ESB issues legal threat over pension

The group of unions at ESB has threatened legal action if the company’s annual accounts do not refer to its pension scheme as defined benefit and as a “balance of costs” scheme.

ESB management has been quoted by Industrial Relations News as saying the accounts, which are due to be released shortly, will describe the scheme as defined benefit and in a manner “consistent with the Labour Relations Commission agreement”.

That agreement was hammered out by the LRC in the aftermath of a threat by the ESB Group of Unions (ESBGOU) to hold significant strike action which would have plunged much of the country into darkness in the run-up to Christmas.