Hundreds of former Bord na Mona workers face a cut of nearly 7 per cent in their pensions as the semi state organisation seeks to tackle a €60 million pension deficit, this newspaper has learned.
The cut is part of a proposal by the company that will ensure staff hold onto their defined benefit scheme in return for a pay freeze, despite earlier proposals to replace it with a defined contribution scheme, it is understood.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team
Willie O’Reilly: A long overdue reckoning for the giants of social media
The recent events in Washington DC have seen Facebook and Twitter diving for cover as they try to wash their hands of responsibility. It won’t work
Analysis: Fine Gael and Sinn Féin trade blows as if it’s an election year
Each party criticised the other’s response to Covid-19 and the social housing crisis in tit-for-tat exchanges in the Dáil
Comment: We should double Services Sites Fund to drive down cost of affordable housing in Dublin
The new shared equity scheme is meant to benefit first-time buyers but still places home ownership out of reach for many in our capital while rents also remain high
Susan O’Keeffe: Vaccination programme needs to be treated as a national emergency
Poor planning has beset Ireland’s fight against Covid-19 from the start, and we are still lacking