ESB vote to strike over gold plated pensions as winter arrives

P_1 wrote: »

I'm fairly sure that the people at the ESB can work out who is responsible for the pension mess, identify where they live and work to rule by restricting the supply of electricity to their houses rather than going on an all out strike. I'd imagine it would be a hell of a lot more effective too

maybe thats what they will do

Femme_Fatale wrote: »

Nobody says they are heroes, and you don't have to be close to them to see what a tough job it is.
I'm not saying I agree with power cuts either, but these things deserve a bit of thought instead of the knee jerking.

They are cushioned pampered people, with extra large salaries, short working days with great working conditions. Paid more than Firemen and Guards Nurses and junior doctors. Do the last 4 listed hold the country to ransom yet they do not have the same money for being front line workers as the pampered ones do.

end of the road wrote: »

their not pampered, and no striker holds a country to ransom, only bitter begrudgers talk such nonsense

Wait and see when the power goes off. It happened before.

Tangatagamadda Chaddabinga Bonga Bungo wrote: »

Fire the lot of them if they go on strike. .

illegal . Stop being stupid.

laura2011 wrote: »

no these people pay income tax in the higher tax bracket, worked 40 years. They deserve to be looked after when they have paid into pensions and not end up on as much as a scumbag lifetime dolehead.

The amount they have paid in (8.5% of salary I believe) comes nowhere close to covering the amount they will receive out of the DB scheme.

laura2011 wrote: »

I agree some workers will end up with mental pensions but the average joe soap in there isn't going to be on a big pension, just a reasonable one.

8.5% of a low salary paid in still won't cover a pension of 50% of that low salary. Is the 18 months lump sum upon retirement still being paid out as well?

e.g:

30k salary x 40 years @ 8.5% paid in = employee contribution of €102000

Assuming (big if) retirement at 65, pension of 15,000 p/a (50% of final salary) and drawing this for 15 years - €220000 + 18 mths lums sum of €45000. Total 265000

Meaning that worker will draw down €163000 more than they paid in. This is for one low-paid (your words) worker. How many current and future retirees are in the ESB scheme? But it illustrates how much (and how ridiculous in this day and age) DB schemes cost.

I am well aware that the above isn't accurate due to the following
-no worker in ESB has stayed on the same salary for 40 years.
-there have been a large number of early retirees in ESB, plenty of whom I know myself
-

awec wrote: »

The taxpayer is paying the majority of their pensions for them.

It is completely unsustainable.

How is the taxpayer paying for any of it? ESB is state owned, not state funded and has never required any injection of cash from government coffers.

hansfrei wrote: »

Think the row comes down to the government taking €60m off the pension fund. Selling state assets worth €600m at the same time and not giving our money to a third party pension company that Irish workers have nothing to do with.

That's not what it comes down to at all.

Frankie5Angels wrote: »

That's not what it comes down to at all.

Then you could outline the case please. Also if you know, could you please post up the reasons why I'm being held to randsom because of a row ESB have with THEIR pension provider?

Caliden wrote: »

If I was in their situation I would do the same thing.

The saddest part is that to get anything done you need to strike. Take the doctors as an example, for several years they told the government about the shifts over 24 hours and they were told year after year "Oh we'll take care of that, don't worry" but nothing was ever done about it until they had a strike.

In fairness the shift roster was criminal and the people who organised it should be jailed. Fair play to them for striking in that situation. I don't think this is the same.

I haven't a clue who is right or wrong here. But you never seem to be taken seriously unless you take the nuclear option. To hell with negotiations, go straight to strike. Problem solved in a week. Focuses minds.

Corvus Maximus wrote: »

Tough shít, many, many private sector workers don't have and can't afford the luxury of a nice pension fund nest egg. And I'm sure many of those among the ranks of the unemployed, would gladly swap places for their generous salaries.

Totally agree. I'm not having a go at public service workers. I doubt they would swap their jobs for the equivalent in private sector. Pensions aren't worth feck all to us. The whole pension thing is a ****ing disgrace anyway. I only know people that have retired with worthless pensions. I wouldn't advise anyone to take out a private pension. Only people who do well with them are the people who are selling them.

Cienciano wrote: »

The price is set by the regulator, not esb

That is why there is such a struggle to get an increase in charges, the regulator waits a few days and says yes. Great system. When did the regulator ever refuse.