Bank hits back at plans for strike action

Planned strike action by Amicus union members at Bank of Ireland is completely unwarranted, management claimed tonight.

With hundreds of employees prepared to picket head office in the coming weeks in a deepening row over pensions, bosses at the bank said they were totally out of step.

In a statement Bank of Ireland said discussions have been taking place with Amicus to address the concerns of staff.

Around 500 workers voted in favour of industrial action at the bank as a row over pensions at the financial institution escalated.

Two stoppages are planned, the first involves staff at head office on Baggot Street who will walk out on November 15 and picket the building.

The following week on November 22 workers will walk out at New Century House and hold a picket.

The bank announced in May that it was implementing a new pensions strategy. It claims it is a competitive, progressive and socially responsible scheme for new employees.

It is due to come into effect from October 2006, with no changes in benefit for existing staff or pensioners.

The bank added: “The new pensions arrangements reflect the changing environment and are superior to most changes being introduced by other companies at present.”

However the move has angered unions including Amicus, Siptu and the Irish Bank Officials Association.

The dispute centres on the bank’s decision to close its defined benefit pension scheme and open up a different scheme for new staff. And Amicus claim its members are being asked to withdraw from the forthcoming Employee Engagement Survey with immediately effect.

Colm Quinlan, Amicus spokesman, said the union was still open to negotiations.

“We continue to engage with employers in all sectors where pension funds are in difficulty, or where trends are causing concern in relation to the future of pension schemes,” he said.

The vote in favour of industrial action was carried by over 90 per cent of the more than 500 Amicus members at the bank.

The IBOA, which represents 8,000 workers at the bank, has called for the bank to defer the introduction of its reduced pension scheme for new staff until a Labour Court hearing was held.

Siptu last week warned it would ask about a quarter of a million of its members and their families to close their Bank of Ireland accounts if it continued with its plan to close the defined benefit pension scheme.

The Irish Congress of Trade Unions has accused Bank of Ireland of breaking the terms of the national pay deal.

Bank of Ireland employs around 16,000 people.