Archived News Items

UPDATE 15th January, 2021

We have been advised by Bríd Smith TD PBP that she will be introducing a proposed bill entitled  Industrial relations amendment (Provisions in Respect Pension Entitlements of Retired Workers) Bill 2020 the Dail.

Briefly the bill aims to give greater representative rights for retired workers and their representative organizations when it comes to issues around their occupational pension schemes. It does this by changing certain clauses in the Industrial Relations act to expand the time period in which retired workers can take a case to the WRC for example and by changing the definition of trade dispute, strike and by adding organizations representing retired persons to other clauses in order to expand their rights.

The National Executive Committee (NEC) wishes all members a peaceful and enjoyable Christmas.

 

UPDATE 15th December, 2020

The information below in relation to Covid-19 Vaccine was received via the Irish Senior Citizens Parliament

Many Thanks to Tony Smyth, Dublin Region Secretary, for bringing it to our attention.

Importance: High  

COVID-19 Vaccine on the Horizon

Dr. Ronan Glynn, Deputy Chief Medical Officer, Department of Health

2020 has been an incredibly difficult year for everyone. But this has also been a year of very significant medical and scientific achievement in which a new illness has been characterised, its genome sequenced, and diagnostics and treatments have been developed.

 

And now, subject to authorisation by the European Medicines Agency, Ireland is on the cusp of deploying at least two COVID-19 vaccines as part of a national vaccination programme.

 

Many are now asking, how has it all happened so quickly? Afterall, we know that, normally, it takes about 10 years to develop a new vaccine, to make sure it is safe and effective, and to make enough of it for everyone who needs it.

 

There are several reasons why this timeline has been really cut down for COVID-19 vaccine candidates.

 

First, there have been enormous levels of investment and scientific and medical research, on a scale never previously seen in vaccine development. 

 

Second, because of the high number of new cases of Covid-19 across the world, the vaccine trials were able to quickly measure differences in disease risk between those who received the vaccine and those who got the placebo or dummy vaccine.

 

Third, many of the processes which normally take place one after the other in vaccine development have instead been running in parallel. For example, large scale manufacturing of vaccines started even before the results of phase 3 trials were available. Similarly, regulators and those developing the vaccines started their conversations very early in the process so that the regulators were aware of developments and so that the process of authorisation can now be as swift as possible.

 

None of these factors imply that safety, scientific or ethical integrity have been compromised, or that short-cuts have been taken.

 

People should take great encouragement from these developments and we can be confident that the successful implementation of this programme will mark a significant advance in our approach to this pandemic. However, there are still many uncertainties and barriers to be overcome.

 

First and foremost, people must be willing to get vaccinated. Our research tells us that the majority have already decided that they will definitely (45%) or probably (28%) take the vaccine when it is offered to them.

 

Of course, many people will have questions. They will no doubt be faced with rumour and misinformation, particularly online. To counter this, transparency and trust must be the cornerstone of our approach to addressing uncertainties and building vaccine confidence. Healthcare professionals – our doctors, nurses, pharmacists and allied health professionals – all across the country will have a central role to play in this process, just as they have been the foundation upon which the entire response to COVID-19 to date has been premised.

 

As we face into Christmas and the New Year, there are many reasons for hope, not least of which has been our demonstrated solidarity and willingness to listen to public health advice and thereby protect ourselves and others. Through people’s collective efforts we have avoided to the greatest extent possible the devastating impact that COVID-19 has had across Europe over the past two months, with greater levels of mortality than those experienced last Spring.

 

But we are not through this yet. This virus doesn’t care that we have done well recently. It doesn’t care that we are tired or that we are desperate to see our families and friends. It is no less dangerous now than it was last March. A vaccine will not have any positive impact on the trajectory of this disease for months to come. In the meantime, we must continue to hold firm; to paraphrase Mike Ryan, we need to continue to do all we can to save lives now, not the lives we promise to save next year. Let’s see this through together.

 

ENDS//

 

Press and Communications Office

 

An Roinn Sláinte

Department of Health

 

Bloc 1, Plaza Miesach, 50 – 58 Sráid Bhagóid Íochtarach, Baile Átha Cliath, D02 XW14

Block 1, Miesian Plaza, 50 – 58 Lower Baggot Street, Dublin, D02 XW14

 

T +353 (0)1 635 4477

health.gov.ie 

UPDATE 13th December, 2020

The following links will bring you to two pages of a document issued by the Senior Citizens Parliament which were included  with the ESBRSA Cork Branch Newsletter.

ISCP120

ISCP220

UPDATE 11th December, 2020

The link below will bring you to the 2020 ESBRSA Cork Branch Newsletter for December 2020. The link is also available in the Cork Branch page.

2020 ESBRSA Cork Newsletter Dec 2020

UPDATE 8th December, 2020

With regret we inform you of the death of Leslie Rogers formerly of ESB Transmission Department Merrion Square. Leslie worked for the ESB from age 18  until his retirement from ESB Transmission aged 55 ca. 1990.   He passed away last Friday 4th December 2020.

RIP.ie notice for Leslie Rogers Cabinteely Dublin

UPDATE 7th December, 2020

With regret we inform you of the death of Paul Fagan ex ESB Inchicore TOD.

RIP.ie link for Paul Fagan South Circular Road Dublin

UPDATE 27th November, 2020

Further to the update below on 12th November 2020 ESBRSA has commented on the Video Presentation as follows:

ESBRSA Comments on Trustee Question & Answer Session

This year the Pension Scheme Trustees decided to make a prepared video presentation available to members to replace the Trustee events of previous years.  Scheme members were invited to submit questions for the Trustees. The Trustee Chairman, Tony Donnelly, made the presentation on the Question & Answer session.  What actually happened during the presentation was that he categorised the questions under various headings and chose to answer some questions, ignored others, or further still, put his own interpretation on the question  and gave whatever answer he saw fit in order to get his  own or ESB’s message across to members.

This was a propaganda exercise on the part of Trustees and ESB, yet again, extolling the virtues and benefits of the 2010 Pensions Agreement as the saviour of the Pension Fund.

Pensioners were not party to this Agreement nor did they have an opportunity to accept or reject the terms of this Agreement, hence the title and quote “Agreement Between ESB and the Group of Unions Representing Staff, on the Issues of Pension Review and Related Matters 2010”

The full document outlining the terms of the 2010 Pensions Agreement Between ESB and the Group of Unions Representing Staff can be found by using the links at the bottom of this posting

The only references to Pensioners in the Agreement can be found under the following headings and extracts from the Agreement

  1. Pensions in Payment

A Pension freeze will apply up to 31st December 2013. Thereafter pension increases will apply from 1st January each year and be based on the level of annual price inflation as measured by the previous year’s CPI (September to September, as published by the CSO), subject to a cap of 4%. The increases will be conditional on passing a solvency test. In relation to all of the above there is no facility for the payment of any catch-up increases.

Solvency Test for the Payment of Pension Increases from 2014

“ The solvency level under the Ongoing Actuarial Valuation is 100% or greater after allowing for payment of the proposed pension increase”

Comment on Trustee answer to solvency test

ESBRSA would take issue with the Trustees views on the solvency test as it is now applied by the Scheme Actuary. The Trustee Chair clearly stated that pension increases have not been awarded because the Minimum Funding Standard deficit, which, including a Risk Reserve, stands at in excess of €700 million at the end of 2019.

This statement by the Trustees is misleading, because according to the terms of the Pensions Agreement, the solvency test is based on the Ongoing Actuarial Valuation only, and NOT on the Minimum Funding Standard. The trustees are clearly in breach of this Agreement, with regard to the criteria used to determine whether a pension increase can be awarded or not.

In addition, the practice of including all future year pension increases in a solvency test under the Ongoing Actuarial Valuation, to determine whether a pension increase can be granted in a single year, is, in ESBRSA’s opinion, a seriously flawed approach by the Scheme Actuary. It continues to block pension increases, which are dependent on 100 % solvency. For the purposes of calculating solvency in any given year, pension increases for that year only should be included. This practice has a serious negative impact on the potential for pensioners ever getting an increase in their pensions in the future.

According to the Pensions Agreement, pension increases should have applied from 1st January 2014 onwards, subject to a solvency test, but in RSA’s opinion, the approach to the solvency test is seriously flawed.

Staff have benefited from that agreement as it included a clause whereby Staff “pension pots” would be revalued by CPI +1% annually. Between 2015 and 2017 and again between 2018 and 2021 two further agreements were concluded with staff whereby a total of 17% pensionable increases in salaries were awarded to staff. None of these benefits to staff are subject to a solvency test.

Pensioners, however, have been seriously disadvantaged by the Pensions Agreement, with an effective pension freeze for the past 11 years, and a solvency test which blocks the prospect of pension increases into the future. Those who negotiated and agreed the 2010 Agreement could never have envisaged the detrimental effect it would have on pensioners 11 years later.

Comments on €591million committed by ESB under 2010 Pensions Agreement

The Trustee Chair gave an account of how payment of this €591 was handled by the Pension Fund. He stated that the total actual value to the Fund was in excess of €800 million. At the end of 2019 there was an outstanding balance of €280 million owed to the Pension Fund.

An amount of €287 million was paid to the Fund in 2020, being the balance of €280 million plus €7 million in interest. However, €47 million of this money was paid into a separate Trust to be managed by existing Fund Trustees.

ESB is obliged to submit funding plans to the Pensions Regulator to address the Minimum Funding Standard (MFS). The last funding plan expired in 2018. ESBRSA has discovered that under the proposed new plan ESB has agreed with ESB Unions to raise the notional retirement age to 64.2 years, which enables the Scheme Actuary to reduce fund liabilities considerably to address an MFS deficit, currently running at in excess of €700 million. The Scheme rules were changed to accommodate this but have not yet received Government approval. However, the agreement with unions does not affect the actual retirement age and still enables staff to retire earlier than 64 years.

ESBRSA has also discovered that in order to fund this arrangement with Unions, ESB, in conjunction with Fund Trustees, have diverted the €47 million, which was due to be paid to the Pension Fund under the previous funding plan, to a separate trust to fund early retirement for staff. This enables ESB to avoid any further employer financial liability to address the MFS deficit under the new funding plan.

The purpose of the new €47 million Trust was not made clear by the Trustee Chair in his video presentation or in the Pension Scheme Annual report. He has stated that the new Trust is for the benefit of the Pension fund but has neglected to state that it is for the exclusive use of serving staff members only, to fund their early retirement.

The Trustee Chair has also neglected to state that the €47 million had been committed as part of the original €591 million to address the MFS deficit under the previous Funding Plan which expired on 31st December 2018. In ESBRSA’s opinion, The Trustees have not given clarity to this financial transaction, either in the Pension Scheme report or in the video presentation.

This is, in ESBRSA’s opinion, is unfair, inequitable and certainly not prudent accounting  practice by ESB, supported by the Trustees, as it enables ESB to avoid any further employer financial liability to address the MFS deficit under the new funding plan. It is the duty of the Trustees to always act in the interests of All members of the Pension Scheme.

Question not Addressed in Presentation

The following question was submitted to the Trustees prior to the video presentation and was not addressed by the Trustee Chair

Are ESB going to address the serious underfunding of future service benefits (€188 million in 2017) for serving staff by increasing its own and staff contributions to the Pension Fund to match future benefits for serving staff over the remaining lifetime of the Fund?

This has the effect of increasing the Fund deficit by the above amounts, as liabilities for future staff benefits have no corresponding asset to fund them.

The benefits arise directly from the 2010 Pensions Agreement whereby serving staff “Pension Pots” are revalued by CPI + 1%, and from two further staff agreements between 2015 and 2017 and again between 2018 and 2021, were concluded with staff whereby a total of 17% pensionable increases in salaries were awarded to staff, without due consideration of the Pensions Fund’s ability  to meet these liabilities in the future.

The Scheme Actuary from Mercers has identified a serious shortfall in funding of future staff benefits over the lifetime of the Fund. In two successive actuarial valuations of the Pension Fund in 2014 & 2017 he has identified shortfalls in funding of €86 & €188 million, respectively.

The only way to address these shortfalls is to increase company contributions to the Fund or share the burden between the company and staff. To date ESB has not taken any action to address this underfunding, which has implications for the solvency of the Fund and the potential for pension increases being awarded to pensioners, which are contingent on Fund solvency.

Unless ESB take immediate action to address this underfunding, it will increase over time until the problem will become almost unsurmountable.

Scheme Actuary Providing for all future years’ pension increases

According to the Trustee Chair, the Actuary must provide for all future years’ pension increases, otherwise no pension increases can be paid in the future. The Actuary is on record stating that the value of this provision is €730 million, included in Scheme liabilities.  The Trustee Chair further stated that they intend to pay pension increases in the future.

ESBRSA would ask when they intend to do this, as many of our members have spent more than half of their retirement without any pension increase whatsoever. There have been no increases for more than 11 years, yet the Actuary has provided an average of 1.6% per annum in each of those years for pension increases.

The inclusion of €730 million in Scheme liabilities for pension increases that may or may not be paid increases the potential for a Fund deficit and therefore has  a serious negative impact on the potential for pensioners ever getting an increase in their pensions in the future.

Shared Understanding

Pension Agreemen 2010 Page1

Pension Agreement 2010 Page2

Pension Agreement 2010 Page3

Pension Agreement 2010 Page4

Pension Agreement 2010 Page5

UPDATE 12th November, 2020

The questions listed below have been submitted for answer in the promised Video Presentation by the Pension Fund which was due in late October 2020 . We are advised by ESB Pensions Administration that the Video Link will be accessible through the ESB Staff Services web page. This link is now available at :

https://www.esbstaffservices.com/pensions/2019-db-annual-report-event/

Questions for Pensions Video Presentation  November 2020

1. Why do the Trustees continue to support ESB’s decisions on the non-funding of Pension Fund deficits? ESB have abandoned the tried & tested traditional method of addressing Fund deficits i.e. increased contributions from ESB and contributing members.

2. Why did the Trustees agree to divert €47 million, intended for the ESB DB Pension Fund, to a separate Trust for the benefit of employees only, despite the fact that these funds were included in the 2012 Funding Plan. It is the duty of Trustees to act in the interests of All Scheme members. The details of this transaction are not properly explained in the Annual Report Summary.

3. Liam Quigley, Scheme Actuary, continues to provide in excess of €700 million for future year pension increases, despite the fact that no increases are being paid and even with this large provision included in Scheme liabilities the Fund is 98.5% solvent on an ongoing basis. This practice continues to block pension increases, which are dependent on 100 % solvency. For the purposes of calculating solvency in any given year, pension increases for that year only should be included. The Trustees continue to support this practice thus making it impossible for pension increases to be awarded for the medium term. The annual revaluation of pensions for serving staff pensions by CPI + 1% is not subject to a solvency test and neither is the awarding of pensionable salary increases for staff. All Scheme members should be treated equally.

4. Future service benefits for serving staff continue to be underfunded. These are mainly attributed to the underfunding of the annual revaluation of serving staff pensions by CPI+1% under CARE, and the awarding of pensionable salary increases to staff, without due consideration of the Fund’s ability to meet these liabilities in the future. Neither ESB or employees are making additional contributions to fund these benefits. This has the effect of increasing the Fund deficit by the amount of the underfunding thus creating an obstacle to the awarding of pension increases now or in the future. Trustees must ensure that all members or classes of member are treated equally. The serving staff and pensioners are, after all, the beneficial owners of the Fund

Financial Management Guidelines

For trustees of defined benefit pension scheme

 Under Governance

 The trustees should have engaged a scheme actuary and whatever other advisors they feel to be appropriate. In all cases, the trustees should be satisfied that they are the primary client of the advisor and that any relationship the advisor has with other parties does not affect on this primary relationship. The advisor should be required to confirm that there is no conflict of interest. The trustees must also consider carefully whether occasional rotation of advisers would be in the best interests of the members of the scheme

QUESTION:

The above text is a direct quotation from a Pension Authority publication, as indicated. Bearing that in mind and the fact that the current actuary (company) has been the appointed actuary to the DB Scheme for almost 50 years, what is the view of the Trustees on the subject of occasional rotation of advisors, and specifically the actuary (company) and is it the intention of the Trustees to secure rotation of the actuary in the near term. Rotation would mean issuing an enquiry for actuarial services for the DB Scheme to a list of such companies which list would not include the current actuary.

Questions for inclusion in the Oct video presentation

A.

Under the rules of the scheme, pension increases are discretionary and I will assume that the Committee has been given discretion on permitting early retirements.

1. Will discretionary early retirement by subject to the solvency test?

2. Will pensioners be refused a discretionary pension increase from the due date for an increase, if in the same year employees are being granted discretionary early retirement?

3. What will be the decision making process for the payment of discretionary benefits (pension increases and early retirements), having regard to the fact that a decision to pay a pension increase is made 9 to 21 months after the due date of effect for that increase, while a decision to permit early retirement could already have been made at any time following the due date of effect for a pension increase (1st Jan for the relevant year)?

Example:

Year’s Inflation Oct 2019 to Sept 2020,

Pension Increase Due Date: Jan 2021

Decision to Pay Increase Sept 2021

In 2021, will employee requests for early retirement be granted before it is known (Sept 2021) if a pension increase will be paid (from Jan 2021)?

B.

In the Trustee’s 2012 MFS proposal as approved by the Pensions Authority, Trustees undertook to collect from ESB the full €591m (2010 figure) by end 2018. Trustees failed to do so.

1. Why do you consider it is appropriate to divert a part of the €591m figure away from the pension scheme (in contravention of the terms of the 2010 Agreement) where it would have benefited all members as intended, and into a separate trust about which

pensioners have been told nothing and which your 2019 Summary Report mentions but gives no detail?

2. Is it the case that this new trust is to benefit only employees?

3. Is it the case that the diversion of funds is a de facto guarantee of early retirement even if pension increases are denied to pensioners given that in the Question and Answer document issued to members by James O’Loughlin on 12th Feb 2020 he stated “While the proposed solution does involve a rule change, it is not anticipated that the proposed solution will have any impact on the ability of members to retire from age 60”

C.

Concerning dates 1st Jan 2019 and 1st Jan 2020:

1. Will solvency test for both years be applied together or separately?

D.

There is nothing in the rules of the scheme (SI 18/2014) requiring the Committee to limit any pension increase to CPI should a larger increase be affordable. A collective agreement between ESB and the Unions cannot subvert or over-ride either primary or secondary legislation which is the exclusive preserve of the oireachtas.

Can you now agree that (1) the 2010 Agreement purported limit of CPI contravenes the rules of the Scheme as set out in legislation and (2) as such is void?

E.

The approved MFS Proposal 2012 put by the Trustees and agreed to by ESB violated the 2010 Pension Agreement in the following ways:

· The Proposal reversed the priority order for pension increases versus de-risking and

· De-risked far beyond anything provided for in the 2010 Agreement

Furthermore

· The diversion of funds this year to an-as-yet unestablished trust also violates the 2010 Agreement.

Can you now agree, whatever merits you as Trustees may see in those departures from the terms of the 2010 Agreement, that these departures are in fact breaches of the agreement as made?

QUESTIONS:

1. The Pension Fund Annual Report states that the fund has returned 8.2% per annum over the last 10 years, yet the Actuary deems it inappropriate to pay any pension increases to pensioners while making provision of over €700m in that period for those unpaid increases. How is it justified not to pay pension increases when the liability is already included in the Pension Fund and it is making returns of this order?

2. The Pension Fund Report states that no pension increase has been granted in 2018 or 2019 but that inflation was low both years at 0.9%. However the same report also states that CARE revaluation occurred at CPI + 1% and that serving staff pensions were increased by 1.9% in both 2018 & 2019. How is this position treating all members of the fund equally and fairly?

3. The pension levy is not reported on in the Annual Report. How much was collected from pensioners in 2019 for the Pension Levy and how much has been collected cumulatively to date for levy from pensioners? Why is this contribution by pensioners not reported on and shown in the funds accounts?

4. In the Financial Statements on Page 49, Item 6 shows investment income has increased by 6.1% in 2019 from 2018. Item 7 shows investment management expenses has increased by 21.9% in 2019 from 2018. How are such enormous increases in expenses justified given that 4 of the 10 Funds mentioned on the same page have decreased significantly? How are these very significant cost increases being managed & controlled by the Trustees of the Pension Fund?

I request specific answers to these questions and that they are not absorbed into general statements about the performance of the Fund

UPDATE 28th October, 2020

We have been requested by ESB Medical Provident Fund to display the notice below on the ESBRSA website

MPF Virtual AGM Notice & Agenda

Due to the Covid19 pandemic, the 2020 MPF AGM will be a virtual
event this year which we believe is in the best interests and safety of
all our members.
The Trustees, in accordance with Rule 9.3, have convened the Annual
General Meeting of the ESB Staff Medical Provident Fund for the
following date and time:
Date: Tuesday 10th November 2020
Time 5pm
Please email mpf@esb.ie (including your Policy Number in the
email) or contact the MPF office at 061 430561 to receive your log
in details to attend the AGM on line.
Agenda
1. Minutes of AGM held on 19th September 2019
2. Trustees Annual Report for year ended 31 December 2019
3. Audited Accounts for year ended 31 December 2019 *
4. Any Other Business

 

UPDATE 2nd October, 2020

ESOP Market Day Result

Link to ESOP Market Day Results 2020

The weighted average successful bid price was €0.95 per share
All forced sale shares were sold. Participants who offered shares for voluntary sale at minimum prices equal to or below the market price have been partially successful and sold approximately 26% of shares offered.

UPDATE 21st September, 2020

ESB RETIRED STAFF ASSOCIATION

NEWSLETTER AUGUST 2020

CONTENTS
Section 1   ESB DB Pension Scheme – a State Occupational Pension Scheme
Section 2   ESB DB Pension Scheme Governance

 

2.1 Selecting Member Trustees by Election

2.2 Superannuation Committee Election

2.3 Governance Reform

Section 3   The Minimum Funding Standard

 

3.1 MFS Funding Proposal 2012

3.2 MFS Funding Proposal 2020

Section 4   Consumer Price Index, Pensions & Pay
Section 5   Political Lobbying
Section 6   ESBRSA and ESB Forum
Section 7   Financial Loss due to loss of traditional indexation.
Section 8   ESBRSA & Covid 19 and Other News

 

Section 1

ESB DB Pension Scheme – a State

Occupational Pension Scheme

ESB DB Pension Scheme is a funded scheme which is regulated as if it were a purely private scheme, whereas it is a statutory state occupational pension scheme which has characteristics quite unlike any private pension scheme.

It is expressly provided for by statute; its rules cannot be changed without ministerial approval; its contribution rates require ministerial approval; and its annual report is only issued after ministerial approval; its members employed prior to April 1995 were required to pay the public service PRSI contribution.

As ESB employees, in common with public service employees, we were not permitted access to the state pension given that we already had a state sponsored occupational pension (employees first employed prior to April 6th 1995) indexed to salary increases, as a matter of public policy. This was not an ESB decision.

Government directed ESB to apply pension increases in line with salary increases in 1971/72. ESB General Employees Superannuation Fund Report for Year Ended 31st March 1972 under the heading “Pension Increases”, records that “The Minister for Transport and Power authorised ESB pensions to be related to the salary scales existing in the Electricity Supply Board on 1st Jan 1972”.

This public policy continued uninterrupted until 2010. The last national wage agreement pay round was a 3% increase to employees and pensioners on 1st Jan 2009.

In the Public Service, Government stopped non-mandatory traditional indexing at the time of the financial crisis but has re-established that indexing in recent times.

Our Scheme was entirely analogous to the Public Service except that it was funded.

Government Circular DPE100-002-2017   29 Jan 2018

 

instructs a return to the non-statutory, pay-linked method of pension adjustment which prevailed until the onset of the financial emergency.

From 1981 onwards, contribution rates were established such as to take account of indexing in line with salary increases (confirmed in a 1996 written report “History and Development of ESB Superannuation Scheme” prepared by a trustee cum executive director of ESB at the request of ESB’s Chief Executive.

In the light of the above facts we continue to call for the re-instatement of traditional indexing as in the Public Service and in line with the terms and conditions of our contract of employment with ESB based as they were on public policy throughout our working lives and paid for by our pension contributions from 1981 onwards.

Section 2  

ESB DB Pension Scheme Governance

2.1 Selecting Member Trustees by Election

Currently 2 members are elected as member trustees – one is drawn from the ranks of employee members and one from the ranks of pensioner members. In the recent election the employee member trustee vacancy on the Trustee Board was filled by Tony Walsh after a 15th July count. Other candidates were John Cronin, Martin Hand and Pat Hennessey. All 4 nominated candidates passed the pre-selection process. Congratulations to Tony Walsh on his election. His appointment is until next June 30th as the normal 5 yearly election will take place next May/June.

Under the Pension Act Regulations (SI376/1996) a valid candidate is a properly nominated candidate who accepts the nomination. Since the 2010 Pension Agreement, a pre-selection process has been used to disqualify some valid candidates from appearing on the ballot paper. This contradicts the relevant statutory instrument SI376/1996 which states that the regulations over-ride where necessary provisions made in the trust deed and rules of the scheme for selecting and appointing trustees. In the case of ESB DB Scheme the rules (as out in SI18/2014) are silent on the issue of selecting and appointing trustees.

SI376/1996 also requires an equal number of nominated trustees and member (elected) trustees be appointed, i.e. 4 nominated and 4 elected. This requirement has been ignored by ESB DB Scheme in Jan 2011 when Mr. Van Dessel and Mr. Kelly were nominated and appointed as trustees, and in the subsequent 2 elections. Twice our queries on this issue to ESB Pensions and Insurance Manager have been ignored.

We have written to the Pensions Authority about these apparent failures to comply with the Pension Act Regulations and await developments.

2.2 Superann. Committee Election 2020

The 10 person Superannuation Committee consists of 5 company nominees and 5 elected employee members who are elected by employee members only. By rule of the Scheme all 10 must be employee members of the Scheme. Pensioners are excluded. Following the election count date of 15th July 2020, our query to ESB Pensions Office seeking the names of those elected brought the reply “Following a nomination process the 5 outgoing elected candidates stood again and as there were no other candidates no election was required.”

ESB held this election process in full knowledge of our strenuous opposition to the continuing complete exclusion of pensioners from the election process including voting and Committee membership, even though employee members number less than 29% of the membership (2018 figure). RSA has brought this matter to the attention of the Pensions Authority which has recently replied that it has no power to direct ESB to change the composition of the Committee.

ESB has refused to move on revising the rules of the scheme, even though it has admitted that reform of the governance arrangements is required, on the pretext that Government has not yet legislated to transpose EU Directive IORP II into Irish legislation. The end-date for transposing the Directive was Jan 2019.

At a Society of Actuaries In Ireland event on 12 June 2020, the Pensions Regulator, Brendan Kennedy, stated “The Department of Employment Affairs and Social Protection is working with the Office of Parliamentary Counsel on the IORP II transposition regulation. This work is high priority and has continued through the Covid-19 disruption, but I do not have an expected completion date.”

In the ESB/RSA Forum Ms. Roma Burke, actuary and partner of Lane Clarke Peacock Ireland (a firm of financial, actuarial and business consultants) in a presentation on IORP II stated that the IORP II Directive had nothing to say about the composition of Governance bodies such as ESB Scheme’s Superannuation Committee. This makes ESB’s delay pending legislation appear as a pretext for avoiding change.

2.3 Governance Reform

Mr. James O’Loughlin, Manager Pensions and Insurance, is currently leading a governance review body. RSA made a presentation to that body last November. ESB has stated that the work of that body will not be completed until after Government transposes IORP II directive into Irish law. Even then, we have been given no indication as to how long completing its work will take nor a timescale as to how long it may be before governance reform is achieved.

Section 3  

The Minimum Funding Standard

3.1 The Minimum Funding Standard 2012

The Trustees with the agreement of ESB made a MFS Funding Proposal in Dec 2011 co-signed by both parties. The Pensions Authority did not approve that proposal and the Trustees with the agreement of ESB modified their Proposal through “additional measures”. Among these measures were:

  • The €591m special employer contribution committed to in the 2010 Pension Agreement should be paid to the Scheme in full by end 2018.
  • Reversing the priority order for pension increases versus de-risking contrary to the terms of the 2010 Agreement
  • Drastically de-risking the fund far beyond the level of de-risking set out in the 2010 Agreement, contrary to the terms of that Agreement.

ESB made no contribution to resolving the MFS deficit in 2012.

Only pensioners suffered loss – in this case their loss was of the meagre increases which the 2010 agreement should have delivered had surpluses not been diverted into de-risking far beyond the figure given in the 2010 Agreement. At the same time employees’ pensions grew unconditionally at CPI+1% leading to employees who retired in 2018 retiring with pensions more than 8% higher than if they had retired with the same service prior to CARE commencement.

3.2 The MFS Proposal 2020

You will recall that last February James O’Loughlin, ESB Pensions and Insurance Manager, wrote to all members of the Scheme advising of a recommendation from the Pensions Implementation Forum (consisting of representatives of Trustees, ESB, Superannuation Committee and Group of Unions) to vary the rules of the Scheme to make early retirements between age 60 and State Retirement Age subject to the discretion of the Superannuation Committee as a way to eliminate the MFS deficit.

ESB Board approved this Proposal and has requested Ministerial approval for a necessary rule change and the MFS Proposal itself. On 25th August, ESB Pensions Office has confirmed to us that the necessary approval for the rule change remains under consideration with no approval granted yet.

Again, ESB is not contributing to the elimination of the MFS deficit.

The 2012 MFS Funding Proposal approved by the Pension Authority was in part based on the payment by ESB of the special €591 million contribution (2010 value) by end 2018. It is now past mid-2020 and a €287 million (current value) balance is still outstanding. Recently ESB has proposed in the Implementation Forum to pay €240 million to the Scheme and to divert €47 million to another legal entity, another Trust, not yet established, to the benefit only of employee members of the our DB Scheme. RSA has written (15th July) to the Trustees requesting their reassurance that they will not accept that proposal which would be to the detriment of all members of the Scheme, pensioners, deferred members and employees. As yet (27st August), no reply has been received from the Trustees. As ESB’s proposal violates the Funding Proposal 2012 approved by the Pension Authority, we have written (7th August) to the Authority about this and await its reply.

Section 4  

Consumer Price Index, Pensions & Pay

From 1st Jan 2010 until end Dec 2019 CPI has grown by 7.6%. In that period your pension has grown by 0.2% (at 1st Jan 2018) without accounting for the government levy and now by minus 1% after the government levy. The purchasing power of your pension has fallen accordingly.

Over the same period employee members have had 5 pay rounds commencing 20th April 2015. To the end of 2019

  • their pay rate has grown by 12.9%
  • the cash value of these 5 increases compound one on top of the next to give a total cash sum equal to 31% of their March 2015 annual salary.

By the end of this year, 2020, employee members will have had 6 pay rounds. To the end of 2020

  • their pay rate will have grown by 15.7%
  • the cash value of these 6 increases compound one on top of the next to give a total cash sum equal to 44% of their March 2015 annual salary

That 6th pay round covers a 15 months period to end 2021 by which time the cash value of those 6 pay rounds will be equal to 60% of their annual salary at March 2015.

Section 5

Political Lobbying.

Our Chairman Tony Collins and Vice Chairman Tom O’Brien had a useful meeting with a senior politician concerning our pension scheme and the treatment of pensioners by ESB/ESB Pension Scheme. We will continue to lobby. We also urge you to raise our treatment as pensioners with your elected representatives.

Section 6

ESB and ESBRSA Forum

ESB provided the Forum as a place where ESBRSA and ESB management could meet and give RSA an opportunity to articulate the issues and concerns of pensioners to management. ESB provided 2 permanent senior representatives who informed us that they were there to listen and would convey our concerns and issues to their senior management. They described themselves as “messengers and not decision makers”. Others attended by invitation, e.g. Manager Pensions and Insurance, Executive Director Enterprise Services, the Superannuation Committee (once). The Trustees absolutely refused to attend.

Both in the Forum and in direct correspondence to ESB Chairman, Chief Executive and Board members, RSA has explained the issues and concerns of pensioners to the point of exhaustion of both the subject and our ability to explain it.

Pensioners have had no tangible benefit from RSA’s engagement with ESB and have suffered an outcome far worse than anything ever envisaged in the 2010 Pension Agreement.

It has never been the intention of RSA to walk away from the Forum but any committee/ forum/ body established for a limited purpose can only decay into irrelevance once that purpose has been served.

If the Forum is not to fall apart it needs renewal which must provide equality of esteem for all members of the scheme irrespective of constituency; should be consistent with the facts that (1) the scheme has been closed to new entrants since 1st Jan 2011; (2) recognise that active members are a diminishing minority (28.6% of membership at end of 2018); (3) that the scheme will eventually have zero active members; and must end the preferential treatment of active members as represented by the Unions, to be achieved by extending to pensioners and their representatives the same rights as employees and their Unions in all matters connected with the Scheme.

The Forum’s original mandate was set out by ESB Senior Management and we have called on them to expand its scope and purpose but ESB has so far refused to depart from the Forum’s very limited mandate as a place for consultation (their word). In all matters pertaining to the pension scheme ESB will engage, consult and negotiate with the trade unions on behalf of employee members including deciding on outcomes but will not consult with RSA before decisions are made. The most recent example is the MFS Proposal requiring a rule change. “Consultation” after the fact/decision is not consultation. At best, it is briefing.

In the light of experience where pensioners have not benefited in any tangible way from our participation in the forum, we have stepped back from it for now. No meetings have taken place this year and not just because of Covid19. It remains available should we chose to request that it meet.

After over 4 years in the Forum we consider the purpose of our participation in it to have been met in full with no tangible benefit to retired members.

 

Further participation in the Forum under the current terms of engagement appears to be pointless at this time.

Section 7

Financial Loss due to non-application of traditional indexation.

Lost Cash Value per Calendar Year for a Pensioner on a Pension of €26,000 / year due to refusal of traditional indexation in line with salary increases from 20/04/2015
2015 €              363
2016 €           1,067
2017 €           1,562
2018 €           2,156
2019 €           2,808
2020 €           3,528
2021 €           4,078
Total Loss to end 2021 €        15,561

On a Pension of €26,000 the total amount lost over the periods:

2015-2019 = €  7,955 = 30.6% of 2015 pension

2015-2020 = €11,483 = 44.2% of 2015 pension

2015-2021 = €15,561 = 59.9% of 2015 pension.

Section 8

ESBRSA & Covid19

Our most recent monthly committee (GPC) meeting was on 5th March last. Our AGM, due toward end June last, is postponed until a date and place to be determined when public health measures for covid19 permit. Just now, such measures do not even permit our monthly GPC meetings.

https://www.citizensinformation.ie/en/health/covid19/public_health_measures_for_covid19.html

 

Other news:

One pensioner has informed us he made a formal complaint to the Pensions Ombudsman concerning his financial loss as a result of the 2010 Pension Agreement. The Ombudsman’s Office engaged ESB in a mediation process which offered no resolution. The pensioner accepted that the Ombudsman proceed further by way of a more formal investigation and adjudication procedure which is expected to take many months.

Our thoughts and sympathy are with all who have suffered illness or bereavement from Covid19 or other cause.

Keep well and stay safe.

RSA Executive.

28th August 2020

UPDATE 10th September, 2020

We have been requested by ESB Medical Provident Fund to put the following notice on the ESBRSA Website.

A message to our customers

 MPF Covid-19 Update for members

10th September 2020

Pre-Admission Covid Test fees

MPF are pleased to announce that agreement has been reached with all private Hospitals who have been charging a fee for pre-admission Covid Tests to pay this expense directly on your behalf.

 Our members will not now be required to pay this expense as the Hospitals will charge MPF directly with effect from today.

 If you have already paid such a fee since July 1st 2020, please forward your itemised receipt accompanied by a Benefit Claim form to the MPF office to claim a full reimbursement of same.

UPDATE 7th September, 2020

The link below enables members to access the ESBRSA  August  2020 Newsletter.

2020-08-28 August Newsletter 

UPDATE 4th September, 2020

We have been requested by ESB Employee Assistance Program to put the following notice on the ESBRSA Website.

ESB Occupational Health wish to advise you of a change to this year’s flu vaccination programme.

In light of COVID-19 pandemic the HSE have announced that they are providing free flu vaccinations to all individuals who fall into the at-risk or recommended group which include individuals aged 65 and over.

If you are in this category you can receive your flu vaccine directly through your local GP or pharmacy free of charge by declaring that you fall into the at-risk group. Therefore, for this year’s flu vaccination programme we ask you not to request a voucher through ESB.

Vaccinations will be available from 1st October 2020.

The full list of the ‘at risk or recommended group’ are available on the HSE website HERE

 

UPDATE 12th August, 2020

The details published on the ESB Staff Services website now show that Tony Walsh was the candidate elected to the Trustee Board of the Defined Benefit Pension Scheme in the recent election.

UPDATE 2nd July, 2020

Reminder

We would remind all retired staff that the 2020 Trustee Election ballot papers must be returned by the closing deadline of 3pm on Tuesday 14th July 2020.

We urge all pensioners to use their vote.

The candidates are, in alphabetical order :

John Cronin

Martin Hand

Pat Hennessy

Tony Walsh

UPDATE 30th June, 2020

We have been requested to put the information below on the ESBRSA Website by ESB Insurance.

ESB Staff Insurance Scheme Competition

Competition Winners Announced

 

COMPETITION RESULTS:

Question: Who is our new broker?

Answer: MARSH

 

AND THE WINNERS ARE …………………………

Angela Lyons, Retired

Frank McDonagh, Retired

Martina O’Brien, Networks, Fermoy

Aisling Delaney, Gateway

Aoife Trihy, Trading

Frank Byrne, Swift Square

Emma Hogan, Networks, Leopardstown

Richard Sheehan, Engineering & Major Projects

Anne-Marie Casey, Customer Solutions, Electric Ireland

 

 Congrats to all who received a voucher each for €50.  We appreciate your continued support.

UPDATE 22nd May, 2020

We have been requested to put the information below on the ESBRSA Website by ESB Insurance.

ESB Staff Insurance Scheme

Motor Insurance COVID-19 Rebate from Allianz

 

We hope you are keeping save and well during these difficult times.   We’re pleased to let you know that you can expect to receive a rebate of €30 in the form of a refund cheque shortly.   This refund is due to an expected fall in the number of claims as a result of fewer cars  on our roads during the COVID-19 restrictions.

Cheque refunds will start to issue at the end of May.  The issuing of these cheques is a significant undertaking for Allianz, but you should receive your cheque by the end of June.

We have 4 One4All  Vouchers for €50 each.  To be in with a chance to win one of these,simply email us : your name, your current home, motor or travel insurance policy number

(just one policy number will do for your entry) and the name of your new broker to our

email address: esbstaffinsurance@jlt.ie .  You must put “COMPETITION” in the subject title.

 Alternatively you can call us on 01702669 to phone in your entry.   Closing date is 31st May.

Good luck to all

 

 

UPDATE 14th May, 2020

We have been requested to put the information below on the ESBRSA Website by ESB Insurance. Another update is expected soon regarding a rebate from Allianz.

COVID-19 Update From ESB Staff Insurance Scheme

COVID-19 Update From Allianz, The Insurer of ESB Staff Insurance Scheme

https://thehub.esb.ie/News/PublishingImages/The%20Hub/new%20logo.PNG

IMPORTANT CONTACT DETAILS

Allianz Claims/Emergency 1890779999

(including Home Emergency Assistance/Roadside Assistance/Windscreens)

ESB Staff Insurance Scheme Team: 01-7026699 Option 5

ESB email contact: esbstaffinsurance@jlt.ie

Website: www.esbstaffinsurancescheme.ie

We recognise that these are uncertain times for everyone and we want to reassure you that our Claims Lines & 24/7 Emergency Assistance services continue to be maintained by our dedicated team of over 600 people here in Ireland (refer contact details below).

We’ve been working hard on additional changes to how we support all ESB Home & Motor customers as fairly as we can in these uncertain times.  We will be doing more too, and will share these changes with you as soon as possible

Today we want to share/remind you of some of the changes and supports that Allianz Ireland has put in place for ESB Home & Motor customers so that we can play our part during this national and international emergency.

What we are doing for ESB Home & Motor Customers:

We are adding/reminding you about extra features to our motor and home insurance products to reassure all personal customers of our commitment:

1. Your Allianz policy covers remain fully active throughout this crisis – except where customers request otherwise and we agree to a reduction or suspension of cover;

2.  Auto-renew: Your policy is renewed automatically, unless you instruct us otherwise.  We won’t cancel your policy for non-payment unless we speak/communicate with you first.

3. Pay by interest-free salary deductions: Remember, if you are on the ESB payroll, you can opt to pay your premium by interest free instalments from your ESB salary- Simply call our team on 017026699 Option 5 before renewal and we’ll do the rest

4. Temporary additional drivers: ESB customers can add temporary additional drivers for up to 90 days (previously 42) at no additional charge;

5. Our Home Emergency Assistance and Roadside Assistance services continue to be available 24/7; Ring 1890779999

6. Remote working: For customers who have commenced working from home or remotely, enhanced and increased home office equipment cover is now provided under ESB household policies. Work duties are restricted to Clerical/Admin activities; see the FAQs below for more information;

7. Owner Occupied Home / Family Homes: The period of time after which we may exclude certain covers under your home insurance, due to the property being unoccupied, is 60 days.  This means that if you are unable to check on your home, full cover will apply for up to 60 days, at which point cover will be reduced as per our standard policy terms and conditions if the property remains unoccupied. This takes effect from 27th March onwards.

8. Holiday Homes: Similarly, if you have a Holiday Home the requirement for the property to be checked once every 30 days will be extended to up to 60 days during this time.

9. NCT tests: We understand that customers are unable to undertake NCT tests due to the Government restrictions at this time; and so we would like to reassure our existing and new customers that car insurance cover will continue to be provided and maintained during this time.

How we are supporting the community and those on the frontline:

In addition, we are also supporting our customers who are directly involved in fighting COVID-19.  These extra measures include:

 Car Cover for Volunteers: Car insurance use is extended beyond normal personal use for our customers helping within their community for voluntary purposes; e.g. to transport medicines or groceries to those in need, or to take those that may be ill or vulnerable to hospital or testing facilities;

Frontline Workers using their own car for work purposes: you are also fully covered per their policy terms when borrowing another car in an emergency or to get to work and breakdown assistance will automatically be extended when they need it during the crisis;

We’ve been operating in Ireland for over 100 years and throughout that time our focus has always been on sustainable, equitable and actionable measures to support our customers, our employees and the wider economy.  We’d like to thank all our customers for their support over the years and at this time.

Working From Home FAQ’s:

I am working from home. Am I covered?

Yes and there is no need to contact us to let us know you are working from home as the following measures are automatically in place to protect you:

Is equipment covered?

Your policy provides cover for Business equipment owned by you (or your employer for which you are responsible), up to a maximum of €4,000 with a single article limit of €1,500.

Are other family members covered to work from home?

The existing provisions cater for you working from home in connection with the ESB or its subsidiaries and have been extended under the current COVID-19 crisis to include cover to non-ESB employees permanently residing in your home

Can I hold an ESB meeting in my home?

No, your policy does not extend to cover third party liability i.e. you are not covered to hold meetings with anyone (whether ESB employees or otherwise) in your home.

I work remotely from a Shomera on my property.  Am I covered?

 If any policyholder has a Shomera, this must be notified to us to ensure cover is extended.  In addition, the building sum insured must be adequate to include same.

 

 

UPDATE 26th April, 2020

A photo of the 2007 Osprey and Clanwilliam House Long Service Awards Group has been added to the Gallery page

UPDATE 24th April, 2020

Dear Members,

May I refer to the previous update on the website (Update of 20th April 2020)

The letter to ESB Chief Executive objected in the strongest possible way to Superannuation Committee elections being held under existing Scheme rules. The Superannuation Committee is representative of serving staff only, who comprise only 29% of total Scheme membership.

This letter to the Pensions Regulator is putting those objections on record and asking for the Regulator’s assistance in this matter.

——————————————————————————————-

Mr. Brendan Kennedy,

Pensions Regulator,

Pension Authority,

Verschoyle House,

28-30 Mount Street Lower,

Dublin DO2KX27

12th April 2020

Dear Sir,

It has come to the attention of ESB Retired Staff Association (ESBRSA) that ESB are in the process of seeking nominations for Superannuation Committee elections to be held in May/June 2020. This Committee approve retirement benefits for serving staff and ongoing benefits for pensioners. The Committee is comprised of 10 members, 5 nominees from the serving employees and 5 nominees from ESB Management.

These elections are being held despite strenuous objections from ESBRSA over the last 4 years or so that this Committee should not be re-constituted under existing Pension Scheme rules, given the changed demographics of Pension Scheme membership very much in favour of pensioners. Existing Scheme rules provide for nominees from serving employees only to fill committee positions. ESB serving staff/contributing scheme members, comprise only 29% of total scheme members and pensioners/deferred pensioners comprise 71% of the total membership.

ESBRSA & ESB have been participating in a Joint discussion Forum for the last 5 years or so to exchange views on topics of mutual interest. During that period, ESBRSA have put a lot of time & energy into discussing the changing demographics of ESB DB Pension Scheme membership, and the lack of pensioner representation on various bodies responsible for Pension Scheme Governance.

In the course of those Forum discussions ESB have acknowledged that the current Governance structures in the Scheme are not fit for purpose yet they are resisting any rule changes until the forthcoming legislation regarding the EU directive on IORPS11 is clarified. ESBRSA have stated that the process of changing Pension Scheme rules to facilitate representation for pensioners is separate and distinct from the provisions of IORPS11, which deals specifically with Trustee responsibilities and is not in any way linked to composition of Trustee Boards.

ESB’s intransigence in this matter is quite frustrating and this current exercise of holding Superannuation Committee elections under existing Scheme rules is totally undemocratic i.e excluding 71% of total Scheme membership i.e pensioners, from participating in the nomination and voting process for a body that ultimately makes decisions affecting all Scheme members.

There is still much to be done in order to achieve a fair and representative governance structure for ESB DB Pension Scheme.

1. The Superannuation Committee will be elected for a further 4-year term and continue to exclude representation from pensioners. This Committee continues to make decisions on benefits i.e. pension increases, and retirement benefits for serving staff

2. The Pensions Implementation Forum, which also does not include any pensioner representatives, makes decisions on pension increases and very recently was very much to the forefront in negotiating revised pension arrangements to facilitate proposals on the Minimum Funding Standard being agreed with ESB group of unions, representing serving staff only. Pensioners were excluded from this process.

This totally unbalanced governance structure that exists in ESB DB Scheme is undemocratic and discriminatory towards pensioners and ESB’s failure to address this imbalance is a clear indictment of ESB attitude to pensioners in this and other pension related matters.

I would appreciate your assistance in this matter and your advice as to what actions you could take regarding the above.

Yours sincerely

Tony Collins

Chairman, National Executive

ESB Retired Staff Associat

UPDATE (2) 23rd April, 2020

We have been requested by ESB MPF to put the information below on the ESBRSA website. It is important to note that ESBRSA has had no reply from MPF other than that below to our letter dated 9th April which was put on our website on the Update of 17th April.

For your information a comparison of the rebates that the major Health Insurance companies are making is as follows:

MPF
Premium plus member €50 per month rebate which equates to a 22.7% rebate on a monthly premium of €219.84
 
VHI
80% of subscribers to receive 45% refund
15% of subscribers to receive 55% refund
5% of subscribers to receive  60% refund
 
LAYA
Payment of €195 to all policy holders to cover 3 months
LAYA premia are for the most part 50% of MPF premium plus rates
 
Irish Life
Refunds of between 30% and 60% depending on policy cover
 
 

MPF Covid-19 Update for members 23 April 2020

In light of the Covid-19 crisis and the potential impact on private health insurance cover (primarily
delaying certain private procedures) the Trustees of ESB Medical Provident Fund have agreed the
following rebate for members for the period April to June inclusive 2020:

MPF Premium Plan member
Adult Over 25 years of age               €90                (€30 per month)
Adult 24-25 Age                                 €75                (€25 per month)
Adult 23-24 Age                                 €60                (€20 per month)
Adult 22-23 Age                                 €60                (€20 per month)
Adult 21-22 Age                                 €45                (€15 per month)

MPF Premium Plus Plan member
Adult Over 25 years of age           €150                 (€50 per month)
Adult 24-25 Age                              €135                 (€45 per month)
Adult 23-24 Age                              €120                 (€40 per month)
Adult 22-23 Age                              €105                 (€35 per month)
Adult21-22 Age                                €90                  (€30 per month)

The rebates will be paid over 3 months to subscribers in May, June and July 2020 and will be based on membership on the last day of the month for which the rebate is being processed.

The Trustees will further review the situation at the end of this 3-month period.

UPDATE 23rd April, 2020

The link below will bring you to a  letter from ESB in reply to ESBRSA’s complaint to the Chief Executive (see UPDATE dated 20th April) that pensioners who make up 71% of the DB Scheme are to be denied a vote and representation on the membership of the Superannuation Committee.

G Heavey 21 April 2020 letter

UPDATE 20th April, 2020

Dear Members,

RSA have been participating in a joint ESB & RSA discussion Forum for the past 5 years or so. One of the main topics for discussion has been the rapidly changing demographics of Pension Scheme membership in favour of pensioners and pro rata representation for pensioners on the Trustee Board and on the Superannuation Committee, the latter having no pensioner representation at all. The recent decision by Group Pensions to invite nominations for the Committee elections under existing Scheme rules, has angered and frustrated RSA participants in the Joint Forum, given the amount of time and energy devoted to this Forum over the past 5 years. This letter to ESB Chief Executive objects in the strongest possible way to these elections being held. The Superannuation Committee is representative of serving staff only, who comprise only 29% of total Scheme membership.

ESB RETIRED STAFF ASSOCIATION

ESTABLISHED 1974

NATIONAL EXECUTIVE COMMITTEE

T. COLLINS, JIM DEVLIN, M.KELLY. A. McCAFFERTY,

PETER LYNCH, TOM O’BRIEN

Mr. Pat O’Doherty

ESB Chief Executive,

Two Gateway,

East Wall Road,

Dublin 3.

D03 A995

10th April 2020

Dear Pat,

I write to you regarding Governance of ESB Defined Benefit Pension Scheme.

I understand that ESB Pensions have recently issued a request to serving staff for nominations for Superannuation Committee elections despite strenuous objections from RSA over the last 4 years or so that this Committee should not be re-constituted under existing Scheme rules, given the changed demographics of Pension Scheme membership very much in favour of pensioners.

In these challenging and worrying times when the focus of the country and the world is on the current COVID-19 crisis, the saying “never waste a good recession” comes to mind and ESB using a recessionary period to introduce new measures i.e. 2010 Pensions Agreement following the 2008 market crash. This move to elect a new Superannuation Committee comes during one of the greatest recessions that this country and most of the world is experiencing.

Under the auspices of the Joint ESB & RSA Forum, RSA have, over the last 5 years or so, put a lot of time & energy into discussing the changing demographics of ESB DB Pension Scheme membership, currently comprised of serving staff (29%) and pensioners/deferred pensioners (71%).

In the course of those Forum discussions during that 5-year period ESB have acknowledged that the current Governance structures in the Scheme are not fit for purpose. Roma Burke (LCP), has provided independent advice on this topic and has agreed that Governance Structures are in need of review based on the changing demographics very much in favour of pensioner members.

It appears that RSA efforts in that 5-year period have been very much in vain, despite the evidence of numbers, so glaringly obvious, that the Superannuation Committee, is totally unrepresentative of all Scheme members, ESB have decided to hold elections for a Committee that will hold office for a further 4 years. This decision appears to based solely on the basis that the EU directive on IORPS11 has not yet been incorporated into Irish law and a company decision to make Governance changes once only. This decision also links that directive to the process of changing Scheme rules in order to facilitate changes to the composition of the Superannuation Committee.

Roma Burke, independent consultant (LCP) has clearly stated during a number of presentations to the Forum that the IORPS11 directive does not contain any proposals on the composition of Trustee Boards, which in ESB’s case includes the Superannuation Committee. RSA have also stated that the process of changing Pension Scheme rules to facilitate representation for pensioners is separate and distinct from the provisions of IORPS1, which deals specifically with Trustee responsibilities and is not in any way linked to composition of Trustee Boards.

ESB’s intransigence in this matter is quite obvious, a clear statement that Governance changes will be visited only once. It is also quite clear that there is reluctance on ESB’s part to raise this issue with ESBGoU who have a vested interest in the continuation of the status quo with regard to Committee elections. It was also quite evident recently, that every effort was made to expedite Scheme rule changes to facilitate this MFS process, yet rule changes to facilitate Pensioner representation on Superannuation Committee are being heavily resisted by ESB.

This current exercise of holding Superannuation Committee elections under existing Scheme rules is totally undemocratic i.e excluding 71% of total Scheme membership i.e pensioners, from participating in the nomination and voting process for a body that ultimately makes decisions affecting all Scheme members.

There is still much to be done in order to achieve a fair and representative governance structure for ESB DB Pension Scheme.

1. The Superannuation Committee will continue for a further 4 years to exclude representation from pensioners. This Committee continues to make decisions on benefits i.e. pension increases, and retirement benefits for serving staff

2. The Pensions Implementation Forum, which also does not include any pensioner representatives, makes decisions on pension increases and very recently was very much to the forefront in negotiating revised pension arrangements to facilitate proposals on the Minimum Funding Standard being agreed with ESB group of unions, representing serving staff only.

This totally unbalanced governance structure that exists in ESB DB Scheme is undemocratic and discriminatory towards pensioners and ESB’s failure to address this imbalance is a clear indictment of ESB attitude to pensioners in this and other pension related matters.

The failure of ESB to address this and other issues will be raised in due course with the Pensions Authority.

Yours sincerely

Tony Collins

Chairman, National Executive

ESB Retired Staff Association

Copy by email to : James O’Loughlin, Group Pensions & Insurance Manager

UPDATE 17 April, 2020

Dear Members,

You may have heard discussions on the airwaves regarding private medical insurance and services no longer available to subscribers. Private hospitals have been re-designated as public hospitals for the duration of the COVID-19 crisis. This letter requests financial compensation for MPF subscribers using the same criteria as other insurers such as VHI, Laya & Irish Life. These insurers have arrived at a compensation package for their members based on the level of cover that each policy holder has. We would expect that MPF will follow along these lines and RSA will follow up to ensure that this is done.

ESB RETIRED STAFF ASSOCIATION

ESTABLISHED 1974

NATIONAL EXECUTIVE COMMITTEE

T. COLLINS, JIM DEVLIN, M.KELLY, A. McCAFFERTY,

PETER LYNCH, TOM O’BRIEN

Mr. James O’Loughlin

Group Pensions & Insurance Manager,

Two Gateway,

East Wall Road,

Dublin 3.

D03 A995

9th April 2020

Dear James,

I write to you on behalf of RSA members who are currently subscribing to ESB Medical Provident Fund. I also refer to a recent conversation that RSA Vice-Chair, Tom O’Brien had with John Conneelly, Team Leader in Rosbrien.

The current COVID-19 crisis has, by necessity, changed the whole dynamic with regard to private medical insurance. Private hospitals have been, by agreement with the HSE, re-designated as public hospitals and as such will not available for private medical consultations and procedures for as long as this crisis continues.

There has been a lot of discussion on the airwaves recently regarding those people who currently have private medical insurance and due to the current COVID-19 crisis, cannot avail of the normal range of services that would be covered by their insurance policies.

I understand that some of the large medical insurers such as VHI, LAYA and Irish Life are currently in discussions with Government on the whole subject of private medical insurance and services no longer available to their subscribers with a view to agreeing financial compensation for members who find themselves in this situation.

RSA believe that MPF subscribers, who are in the same situation, i.e. paying for services that are no longer available to them, should also be entitled to whatever financial compensation is agreed by the other insurers with Government.

RSA will be watching, with interest, to see what the outcome of these discussions will be.

I would expect that the above issues would be high on the agenda of any discussions/meetings with MPF Trustees and would appreciate if you would advise the MPF official position at your earliest convenience.

I look forward to hearing from regarding the above.

Yours sincerely Tony Collins

Chairman, National Executive, ESB Retired Staff Association

 

UPDATE 2nd April, 2020

We have been requested by ESB Insurance to put the information below regarding Emergency Home Assistance below on our website for members information in light of the Covid-19 difficulties.

Emergency Home Assistance

COVID-19 – ESB Staff Insurance Scheme – Here to help in an Emergency

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https://thehub.esb.ie/News/PublishingImages/Promotions%20-%20Offers/staff%20insurance%20emergency%20home%20assistance.png

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​We hope you are all safe and well during this time.  We want to respond to your emergency as quickly as possible. As you can imagine, service levels may be impacted due to availability of tradesmen, but rest assured, we will do our utmost to assist you.

WHAT IS EMERGENCY HOME ASSISTANCE?

An emergency is an unexpected event which damages or potentially could cause damage to your home. It usually calls for immediate action to prevent further loss or damage and to make your home safe and secure. To support you, your ESB home insurance policy now offers a new and improved service, Emergency Home AssistanceSo whether it’s a burst pipe or you lose your house keys ESB home insurance customers can now call 1800 779999 day or night. This service is a standard benefit on all ESB home insurance policies.

If you do not have home insurance and would like to talk to someone about setting up a policy call 01 702 6699 (option 5) now or email us on be esbstaffinsurance@jlt.ie

KEY BENEFITS OF EMERGENCY HOME ASSISTANCE

1.    Covers the cost of the call out, labour & materials (up to €300 per incident, four times per year)*

2.    Aim to have a certified tradesperson with you in 90 minutes

3.    Available 24/7/365

4.    No excess (this is not a claim so you don’t pay an excess)

5.    No affect on your No Claims Bonus

*Doesn’t cover wear and tear or loss or liability caused by any act carried out to provide the emergency service

HOW WE CAN HELP YOU

The main priority is that you know you can call us if you find yourself in a home emergency, like, but not limited to, the following:

·         Water Leak
Water moves fast but so do we! We cover emergencies inside your home such as burst pipes, blocked drains, damaged water tanks or leaking radiators

·         Locked out
We’ll get a locksmith to your home to cover theft, loss and damage to your lock and keys so you can get back in safely

·         Broken windows
We cover broken glass in outside windows or doors which makes your home unsafe and vulnerable

·         Heating or electricity breakdown
If your heating system or electricity supply breaks down unexpectedly we can assist to restore it

AFTER A HOME EMERGENCY

We understand that immediately following an emergency can be difficult so that’s why we provide the following services to support and help you through it:

·         Overnight accommodation with transport for up to 4 people**

·         Transport and storage of your furniture for up to 7 days (up to 50km)***

·         Pass on urgent messages to your family at home or abroad

**Subject to a maximum of €50 per person, up to a total of €200 for any one incident. Only applicable if we deem your home uninhabitable.

*** Subject to a maximum of €200 for any one incident. Only applicable if contents need to be removed for security reasons. ESB home insurance policies are underwritten by Allianz.

Visit us on www.esbstaffinsurancescheme.ie

UPDATE 23rd March, 2020

Some photos of TOD staff in 1967 have been added to the Gallery page. With thanks to Michael Hughes.

UPDATE 19th March, 2020

We have been requested by ESB Insurance to put the information below on our website for members information in light of the Covid-19 difficulties.

Dear Customer,

During this extraordinary time I hope that you, your loved ones and your colleagues are well. There is no doubt that this situation is impacting many of us in our daily work and life

With a continuously evolving situation like COVID-19 impacting our country and the global community, we all face a very challenging time. I want to assure you that our top priority is to protect the health and safety of our employees and our customers and we are putting every effort into ensuring we can continue to deliver the customer support and service you need during this time.

We have strong business continuity plans in place and we will continue to monitor and plan ahead for all eventualities in order to protect you and our employees during this unprecedented time, so you can be assured of receiving the highest level of service with minimal disruption from ESB Staff Insurance Scheme (see Useful Information below).

Thank you for your continued trust and support. If you have any questions or concerns please do not hesitate to contact me or a member of the team on 017026699 Option 5 or email: esbstaffinsurance@jlt.ie

Andrea Byrne

Manager

ESB Staff Insurance Scheme

Phone: 0879483990

 

USEFUL INFORMATION

Daily Activities

We are endeavouring to operate remotely and are adequately equipped to do so but some activities can only be performed on site.  We are limiting the number of people in the office.

Counter Service Cancelled

Our Counter service is cancelled until further notice. Please do not call into our office.  Payments can be made by calling us on 017026699 Option 5, Option 1.

Telephone Lines are Open

Our telephone lines and email service are open and staffed. However there are limitations on phone lines and I would ask that you be patient if you do not get an immediate answer. We are aiming to call back within 20/30mins. If you are expecting a call back, it will be from a blocked number so please answer (as the majority of the team are working remotely).

Email – For a quick response

For an efficient response to queries, please click on the link to use our email service:  esbstaffinsurance@jlt.ie

TIPS: The Motor line is the busiest. Bear in mind, when working remotely we do not have a call pickup function (i.e. we can only answer one call on each line at a time). Use email where possible for all Home/Motor/Travel queries, its much quicker : click here to email us: esbstaffinsurance@jlt.ie

RENEWALS

Home & Motor

Home & Motor renewals are renewed automatically.  We will not cancel your policy due to non payment unless we have written/spoken to you directly. 

If you pay by salary deduction, deductions for home and motor will stop a month priory to expiry and start up again the month after renewal eg.  A March renewal, the last deduction will be February and the first instalment of the renewal will be taken in April (for weekly/fortnightly/monthly paid staff)

Travel Insurance is not automatically renewed

Travel policies are no longer being renewed with AGA.  We have a new travel provider, Chubb insurance.  For more information or if you wish to purchase a policy please click the following link to access our website at www.esbstaffinsurancescheme.ie

Working from Home

  1. There are provisions to work from home for business or professional purposes related to ESB or its subsidiaries.  Under the current COVID-19 crisis Allianz have extended this cover to non-ESB employees permanently residing in your home
  1. Duties are restricted to Clerical/Admin activities
  1. This policy does not extend to cover third party liability i.e. you are not covered to hold meetings with anyone (whether ESBemployees or otherwise) in your home.
  1. This policy also provides cover for Business equipment (owned by you), limited to a total of €4000 with a single article limit of €1500
  1. Shomera:  If any policyholder has a Shomera, this must be notified to us to ensure cover is extended.  In addition, the building sum insured must be adequate to include same.

All of the above is subject to terms/conditions/restrictions/exclusions.

This is a broad outline of the cover provided by ESB Staff Insurance Scheme Home policy.  We strongly recommend that you read the full wording which can be found on our website: www.esbstaffinsurancescheme.ie

 

UPDATE 27th. January 2020

The letter below appeared in  the Irish Times on 23rd January, While it refers specifically to the case of RTÉ pensioners it is significant for the fact that the government is blocking an increase for pensioners of a semi state body.

Dear Sir,

I am one of thousands of retired semi state employees who spent their lives working for the state. ESB, Bord na Mona, RTE, Bord Gais etc etc. Most of us have no state pension. We were not allowed to pay the appropriate PRSI stamp because we all contributed to our respective Defined Benefit Superannuation Schemes. With the financial collapse in 2008, most of these Schemes stopped any increase in pensions, not unreasonably. In addition, the Noonan levy reduced our pensions by over 2% – in perpetuity in most cases. In 2018, the scheme of which I am a member decided after years of careful management and the best of actuarial advice to recommend a very small increase of 1%. It was decreed in law that such an increase had to be approved by the Minister for Public Expenditure and Reform. Almost two years have passed. The scheme is in excellent health and well able to afford the increase. Now, almost 12 years since our last increase in pension and almost 2 years since the application went to Government, Fine Gael has blocked this payment without explanation. Many of my colleagues are very elderly with very modest pensions – their own deferred salaries in effect. Our money. No cost to the public purse. Since 2008, the state pension has increased by 16%. Ours has decreased by over 2%. A proud record.

Yours. Tony O’Connor Dublin 16.

UPDATE 17th. January 2020

ESBRSA recommends that members make the following points to politicians seeking votes in the upcoming General Election.

ESB Pensioners :

  • Are members of a Statutory State Occupational Defined Benefit Pension Scheme which is
  • Not a Private Pension Scheme
  • But an analogue of the Public Service Pension but funded
  • Pension indexed to salary increases, Government Policy from 1970
  • Have No State Pension – A Government decision / imposition
  • 11 Years without a pension increase (last increase Jan 2009)
  • Pension today less than in 2009 (Government Levy)
  • Terms & Conditions of Employment included indexing to salary increases – ESB HAS RENEGED.
  • Have no representation
  • Have no access to arbitration or labour court.
  • No voice. No say. Excluded by ESB from negotiations on pension
  • Employees number a little more than one quarter of the members – but employees have representation and arbitration, and a say in pension matters
  • Minimum Funding Standard is preventing pension increases.
  • Minimum Funding Standard is destroying pension schemes – not protecting pensioners

UPDATE 24th. December 2019

The National Executive Committee (NEC) wishes all members a peaceful and enjoyable Christmas.

UPDATE (1) 30th November 2019

Link for Member’s Newsletter October 2019

 

UPDATE (2) 30th  November 2019

LOBBYING YOUR LOCAL TDs

We are urging all pensioners to make representations to their local constituency TDs and to make their case in their own words. To assist we provide below talking points, at least some of which, you may wish to raise with your TDs.

ESB Pensioner Priorities are:

  1. Pension increase(s)
  2. Representation and Arbitration
  3. Access to Pension Scheme Trustees
  4. Pension Protection (Social Welfare, Pensions and Civil Registration Bill 2017)

I have not had a pension increase since 2009 in my ESB pension

Most ESB pensioners do not have the state pension (pensioners first employed by ESB before April 1995)

  • Government is responsible for permitting ESB to keep its employees outside the social welfare system – denying us access to social welfare benefits including state pension.
  • This saved ESB from paying full rate employer PRSI contributions prior to April 1995
  • The state pension has increased by more than 8% since 2010.
  • ESB pensions have been frozen since 2010
  • ESB salaries have risen by 10% since 2010.

Representation and Arbitration.

Under their conditions of employment ESB Pensioners received pensions are per public service terms (1/80 per year of service) and paid public service PRSI.

ESB Pensions were first indexed in line with ESB salaries as expressly authorised by government in January 1972. By custom and practice over 40 years this indexing became part of your terms and conditions of employment.

Pensioners do not have available to them state recognition to organise collectively nor access to a state body such as the Workplace Relations Commission or the Labour Court to which they could refer a dispute concerning their occupational pension.

Government is still refusing to provide such recognition and access.

The Pension Ombudsman will only listen to complaints from individuals and not from organisations of pensioners such as ESB Retired Staff Association. We cannot go there.

The Pensions Authority is mandated by legislation to concern itself only with Scheme Trustees’ compliance with the Pension Act. We cannot go there.

Your contract of employment was that you undertook to provide your time, knowledge, skills, experience and labour to ESB for the duration of your employment and in return ESB was to pay you while you did so and provide you a DB pension on retirement indexed to wage increases. Given the nature and terms of that contract, your obligations finished the day you retired but ESB’s obligations require ESB to meet its terms over your lifetime. ESB has reneged on this contract.

Access to the Industrial Relations Machinery of the State is a basic right for workers.

Pensioners on DB pensions should also have access to the Industrial Relations Machinery of the State as far as their pension entitlements are concerned given the nature of their contract of employment / DB pension benefits due in retirement.

Did ESB have government approval to renege on your conditions of employment?

Lobby your TDs for Pensioner Representation and Arbitration

Legal Access for Pensioners to Pension Scheme Trustees

  • ESB DB Pension Scheme Trustees communicate with members (employees and pensioners) via their Annual Report, and over the last 3 years have met with members in a face to face meeting in the autumn of 2017, 2018 and 2019. The Trustees absolutely refuse to meet with ESBRSA (No right to collective representation).
  • If a Scheme is already in trouble and Trustees intend to restructure (read “reduce benefits”) they are obligated under the Pensions Act 1990 to make a Section 50 application to the Pensions Authority to reduce benefits and to provide for a 1 month consultation period for pensioner representative group(s) with Pension Scheme Trustees.
  • This is totally inadequate, as the only recourse that Pensioner Representative Groups would have during the stipulated one month consultation period would be to the courts, i.e. to obtain an injunction against the Trustees.
  • This right of appeal is too little too late for these groups and is of no practical value for reasons of cost.
  • What is required is an initiative by the Minister for Employment Affairs & Social Protection to amend the Pensions Act to allow for collective pensioner representation with the Trustees.
  • This principle of collective pensioner representation is already acknowledged under Section 50 of the Pensions Act.
  • Pensioners should have a legal right of access to Pension Scheme Trustees on an ongoing basis to discuss issues surrounding future Scheme funding, Actuarial Valuations, security of pensions including provision for pension indexation and the existence and quality of any enforceable guarantees on the Pension Scheme provided by the employer.

Pension Protection and the Social Welfare, Pensions and Civil Registration Bill 2017

Under current legislation, there is no obligation on employers to fund deficits in their Pension Schemes so there is no effective protection for pensioners against solvent employers reneging on responsibility to their Pension Schemes where a deficit arises. This can then compel Scheme Trustees to restructure the Schemes and reduce benefits by way of a Pension Act 1990 Section 50 application.

The proposed new legislation to be introduced in the Social Welfare, Pensions and Civil Registration Bill 2017 is an opportunity for Minister Doherty to introduce effective legal protection for Scheme members.

Solvent Employers who abdicate responsibility for their Pension Schemes and fail to make contributions to resolving Pension Fund deficits ought to face financial consequences.

The “Debt on the Employer” concept for the amount of an unresolved Pension Fund deficit needs to be enshrined in Irish Pension Law without further delay. This would ensure that solvent Employers would be liable to make payments to their Pension Schemes over a 12-month period, agreed with the Pensions Authority, to resolve a deficit in the Fund. A consequential Debt on the Employer would be incurred if the Employer fails to make payments.

Minister Doherty has bowed to pressure from corporate interests such as ESB, RTE and IBEC who have made very strong representations to prevent the “Debt on the Employer concept measure from being included in the bill. She has removed this provision from the current version of the Bill.

The Minister for Social Protection’s primary responsibility is to pensioners not to Corporate interests.

Ask your TDs “I am asking you as my public representative to support the re-introduction of the “Debt on the Employer” concept in the Social Welfare, Pensions and Civil Registration Bill 2017 to ensure effective protection for pensioners is included as part of this Bill”.

************************************************* 

 

UPDATE  24th  October 2019

ESBRSA Protest March  against exclusion from Representation by Government and ESB

More photos in the Gallery Page…..

Pensioners at the Protest

 

ESBRSA Protest arrives at Molesworth St.

 

Start of ESBRSA Protest March Kildare St. 23rd October 2019 against exclusion from Representation by Government and ESB

UPDATE  20th  October 2019

National Protest at Dáil Éireann on Wednesday 23rd October at 12 Noon

Following our successful protest last March, ESB Retired Staff Association (ESBRSA) will hold another national protest march in support of a pension increase and pensioner’s rights outside Dáil Éireann in Kildare Street at 12 Noon on Wednesday 23rd October 2019.

This is a National day of Protest and all 15 Branches of ESB Retired Staff Association will be participating.

We will be assembling on Kildare Street beside the Dept. of Agriculture and opposite the Dept. of Business, Enterprise & Innovation where Matt Kelly will distribute placards. There will be marshals in place to direct you to the assembly point. The attached map will give you the locations for the assembly point and protest.

Assembly will start at 11:30. Please be there by 11:45 and bring your high viz vest.

We will be wearing our high- viz yellow vests again so don’t forget to bring yours. Please check our website www.esbrsa.ie for updates
Please come out to support this Protest for a Pension Increase and your Rights as a Pensioner !!

 

 

 

UPDATE 8th  October 2019

 

Part of the attendance at the Trustees – Members Meeting at Aviva Stadium Landowne Road on 8th October 2019With thanks to Michael Hughes for the photo

UPDATE 7th  October 2019

A meeting where the Pension Fund Trustees will meet the fund members

Will be held on

Tuesday 8th October 2019

At Aviva Stadium (Lansdowne Road) Dublin

At 5:00p.m.

There is car parking available.

Enter at Lansdowne Lane off Shelbourne Road.

We encourage all fund members to attend these meetings and express their views of the state of the Pension Fund and their pension.

A second meeting will be held on Thursday 10th October, 2019

At Hodson Bay Hotel, Athlone

At 5:00p.m.

UPDATE 4th  October 2019

 

Group photo on the occasion of a tribute to Peter Morgan who retired as Secretary of ESBRSA Tralee Branch after many years of service to ESBRSA
Front Row : Left to Right
Pat Moriarity, John Nugent, Chair. Waterford Branch. Peter Morgan, Former Secretary Tralee Branch. Tony Collins, Chair. National Executive Committee
Back Row : Left to Right
Ann McCafferty, Treasurer National Executive Committee Michael Guerin, Former Chair. Tralee Branch. Dennis Riedy, Chair. Tralee Branch. Tom O’Brien, Vice Chair. National Executive Committee. James Houlihan, Tralee Branch. Maurice Hayes, Tralee Branch. Breda Walshe, Treasurer Tralee Branch.

 

 
 
 
UPDATE  17th September 2019
 
Medical Provident Fund (MPF) AGM This Week
 
All MPF members should have received a notification of this year’s Annual General Meeting (AGM).
 
Each year MPF rotates it’s AGM to different locations to facilitate members around the country.
 
The MPF AGM takes place Thursday 19th September at the Hodson Bay Hotel, Athlone, commencing at 5:30 p.m.
 
 
 
UPDATE  10th July, 2019
 
 
 
A reminder for those members who would like to receive EM
The different ways for retired members to view the current bi-monthly EM publication are as below::
 
 
    This will give you access to an electronic copy of the current edition of EM, with which articles can can be enlarged.
 
 
2. To get on the circulation list to receive regular bi-monthly hard copies delivered by post to your home address you can email:             employee.communications@esb.ie with your Staff Number, name, home address and your Eircode.
 
 
3. A regular hard copy of EM magazine can also be requested by writing to:
 
ESB Employee Engagement & Communications
Gateway Two,
East Wall Road
Dublin 3
D03 A995.

UPDATE  3rd June, 2019

On Wednesday 5th June at 9:35p.m. on RTE 1 ………

RTE INVESTIGATES

Programme titled “THE ESB LEAKS” will be broadcast !!!

Current affairs report on a hidden area of Irish life.

UPDATE  20th May, 2019

REMINDER

All members of H.O. Branch, please note that the AGM is on on Tuesday 21st May at Wynn’s Hotel Abbey St. Dublin 2 at 2:15 p.m.

 
ESB RETIRED STAFF ASSOCIATION, HEAD OFFICE BRANCH
NOTICE OF AGM 2019 AT WYNN’S HOTEL
 
Notice is hereby given that the 26th Annual General Meeting will be held at Wynn’s Hotel Lower Abbey Street, Dublin 1, on Tuesday 21st May 2019 at 2.15 PM.
You are encouraged to attend. This is an opportunity to let your views be known and to be updated on matters affecting pensioners.
Tea/Coffee/ Biscuits will be provided following the meeting.
 
AGENDA
1. To approve the Minutes of the 2018 AGM.
2. To consider the Secretary’s Report for the year ended 31.03.2019
3. To consider the Treasurer’s Report for the year ended 31.12.2018.
4. To appoint an auditor for the year 2019.
5. To receive a report on the following:   PENSION INCREASE/PROTEST ACTION   REPRESENTATION RIGHTS   TRIDENT ACTUARIAL REPORT (CIRCULATED FEBRUARY 2019 ).   ESB/RSA FORUM.   PENSION SCHEME GOVERNANCE STRUCTURES
6. To elect Honorary Officers and Committee Members for the year 2019/2020.
7. To consider any other business.
 
Brian Glover,
Branch Secretary

UPDATE  27th March, 2019

 

ESBRSA DÁIL PROTEST MOLESWORTH ST.
Photo Thanks to Pat Dromey

The National Executive Committee (NEC) sends it’s appreciation and thanks to all who attended today’s protest at Dáil Éireann.

Particular thanks to the fifteen branches nationwide who were represented at the protest, those who traveled long distances and those whose attendance was very burdensome.

 

 

·  

UPDATE  23rd March, 2019

 

Demolition of ESB HO 2018

 

Rebuild of ESB HO 2019

Some information about a Company whose Retired Workers have had their pension frozen for 10 Years

(State in line for €35m dividend as profit at ESB reaches €60m)

The €35 million dividend will bring the total payout to the State over the past 10 years to €1.4 billion.

UPDATE  15th March, 2019

The GPC (General Purposes Committee) has decided that another Protest should follow quickly on the last one in order to keep up the momentum gained. This Protest will be held on Wednesday 27th March at 12 noon outside Dail Eireann in Kildare Street.

The issues for this Protest will be the same as the previous one, in support of a pension increase, but we will be targeting the Government this time, and in particular, The Minister for Employment & Social Protection within whose remit it is to establish procedures for pensioners i.e representation & arbitration to achieve fairness and justice. Remember, The Government are 95% shareholders in ESB

ESB Pensioners, as majority stakeholders in ESB DB Pension Scheme (70%), have no representation or arbitration procedures with ESB Management or ESB Pension Scheme Trustees. Both ESB & the Trustees have refused to engage with RSA on any of the issues raised in the letter handed in to ESB at our last protest.

This Protest will be on the same scale as the previous or bigger. We are contacting members via their Branch Secretaries and by email. Please pass on the message to those members not on email.

We will assemble at Schoolhouse Lane East Dublin 2 Opposite the National Museum and the Dept, of Agriculture, in Kildare Street. at 11:30 for a protest between 12:00 and 1:00 pm

 

This venue is much more convenient than ESB Gateway and can be accessed quite easily by public transport. The Luas Green line stops in Dawson Street and the 145 bus from Heuston station will leave you at Kildare Street.

We are also suggesting that you contact your local TD’s and inform them that you will be protesting outside Dail Eireann on 27th March in support of pensioner’s rights. There will be local elections this year and who know’s what will happen after Brexit, maybe a general election?

We will be wearing our high- viz yellow vests again so don’t forget to bring yours. Placards will be available on the day.

Tony Collins

NEC Chairman

UPDATE  15th March, 2019 (2)

THE PENSION PROMISE

The further document below has come to hand written by Brendan Clear, SECRETARY ON BEHALF OF THE TRUSTEES, dated 16th. September 1993

The highlighted paragraph reads :

“This means that the problems which were of such concern to the Trustees have now been removed and therefore there is now no question of reducing the benefits of the Scheme or making any change in the current practice of increasing pensions in line with ESB wage increases.”  !!!


Below is an extract summary of a report produced by ESB in 1996 titled History and Development of the Superannuation Scheme.
The third bullet point shows that Government intervention in our pension fund resulted in further liabilities for the fund.

See also previous items on the PENSION PROMISE below

 

Further to the January 3rd update this extract from the 2008 Pension Fund Annual Report confirms operation of the Pension Promise.


The photos here are of a pension booklet issued by Superannuation Group, Personnel Services, E.S.B.in July 1979 to staff.
In the text in item 29(b) Adjustment of Pensions it is clearly stated that
“In the case of all general Employee Pensioners and the majority of Manual Worker Pensioners, pensions are adjusted in line with the salaries of serving staff in the E.S.B.”

ESB, Will you honour the Pension Promise ?

UPDATE  8th March, 2019

 

 

 

 

 

The Dublin Region / Head Office Branch social on 7th March enjoyed a very interesting, enjoyable and informative presentation on the Bridges of Dublin by Michael Phillips FIEI, former
Director of Traffic and City Engineer, Dublin City Council

Thanks to Michael Hughes for the photo.

UPDATE  5th March, 2019

Dublin Region and Head Office Branch Social

It’s time for yet another Branch Social event. The Social last September was a success, and as always, very well supported. All those who attended had a very enjoyable afternoon. The details for
the next event are as follows:

Event: Social Gathering
Venue: Wynn’s Hotel, Abbey Street
Date & Time: Thursday 7th March 2019 at 2.15 pm

There will be a guest speaker to give, what I understand, is a very informative and entertaining talk on the Bridges of the Liffey and the history associated with them. This is a departure from some of the more serious subject matters covered at previous social events. The committee believe that this topic will be of interest to our members.

There will be a break for refreshments followed by some quality musical entertainment from Tommy Fox who is a regular entertainer at our Socials. The most important aspect of these gatherings is to give members an opportunity to meet and catch up with former work colleagues in a comfortable
environment.

Spouses/ partners are welcome and refreshments will be provided.

We hope to see you all there!

 

UPDATE (1) 27thFebruary, 2019

The link below is to the Trident Consulting Actuarial Report titled
“A Review for the ESB Retired Staff Association of the Scheme’s ability to support pension increases”

This report was given to ESB by ESB Retired Staff Association on 5th. February 2019.

Trident Final Report on Support for Pension Increases Nov 2018

The following is a summary of the important issues extracted form the Trident Consultants report:

1. The 2010 agreement has had a major negative impact on pensioners – Pay parity with serving employees was broken, Pension increases subject to annual solvency test and no facility for catch-up increases

2. The divergence between incomes of serving staff and pensioners (8.3%) resulting from the application of the 2010 Pensions Agreement (between ESB and Unions) to pensioners and the potential for greater divergence (33.9%)

3. The inclusion of C.€700 million liability for future year pension increases in a solvency test of whether a pension increase in a single year can be granted is a flawed approach

4. The shortfall of €188 million in funding future service liabilities of serving staff only serves to further impact negatively on the potential for pension increases

5. The Pension Scheme has been in balance since 2011 with an ongoing solvency level of 98% in 2011 up to 101% in 2017.

6. The assumptions underlying the ongoing valuation depend on the judgement of the actuary and hence pensioners’ incomes depend directly on this judgement.

7. Annual CARE pension revaluation of CPI + 1% for serving staff is not subject to a solvency test and is not funded by additional contributions from either Employer or Employee (Current Employees Take Note)

8. Pensionable salary increases for employees are also not subject to any solvency test

UPDATE 26th February, 2019

OUR THANKS TO ALL WHO TOOK PART IN TODAY’S PROTEST AT ESB HO EAST WALL ROAD IN SUPPORT OF OUR PENSION CLAIM.
SPECIAL THANKS TO THE BRANCHES WHO TRAVELED FROM ALL BRANCHES NATION WIDE!
WE WILL TOMORROW PUBLISH THE REPORT COMMISSIONED FROM TRIDENT CONSULTING ON THE ESB DEFINED BENEFIT SCHEME WHICH WAS SUBMITTED TO ESB.

 

Photos by Michael Hughes shows a section of the large turn out at the ESBRSA protest at ESB Head Office 26th February 2019
Thanks to all who attended in support of our Pension Claim after a 10 year Pension Freeze
More Photos have been added to the Gallery !

UPDATE 22nd February, 2019

All Members Please take Important Note of the Following:


ESB Retired Staff Association will hold a Major Protest March in support of a pension increase after a 10-Year Pension Freeze


Event : Major Protest March

Venue: ESB HQ at Gateway, East Wall Road, Dublin 3.

Date & Time: Tuesday 26th February 2019 – assembly at 11.30 am beside Starbucks East Wall Road for Protest at 12 Noon

Weather: The current forecast is for a dry sunny day with a max temperature of 13C

ESBRSA National Executive Committee (NEC) have organised a Protest March in Support of a pension increase.
The National Executive Committee lodged a claim against both ESB and Trustees of the Pension Fund for a 7.7% increase in August 2018 which has been rejected by both ESB & Trustees. This was to match what serving employees were awarded between 2015 – 2017.
ESB Group of Unions are currently in negotiations with ESB for a further round of pay increases for employees. Prior to 2010, pensioners were always awarded pension increases in line with salary increases awarded to staff, a practice that had been maintained for more than 40 years up to 2010.
We are asking All 15 Branches of ESBRSA to participate in this protest to demonstrate our anger and frustration at the way pensioners have been treated since 2010.
The quickest and shortest route to ESB HQ at Gateway by Public Transport is by the 130 bus from Lower Abbey Street, opposite Abbey Theatre. The 130 bus runs every 10 minutes and you get off the bus at stop no. 519, Annesley Bridge, Fairview and the Gateway HQ is only about a 5 minute-walk down East Wall Road. The 29A bus, also from Lower Abbey Street will bring you to Annesley Bridge, but is not as frequent as the 130. An ESBRSA Protest Marshal will be at the bus stop in Abbey Street to assist members. He will wear a Hi Viz yellow vest with ESB Retired Staff printed on the back and will wear a “Marshal” armband.
ESB Gateway is also accessible by DART via Clontarf Station and by LUAS to the Point Depot with a 20-minute walk to Gateway.
There is a Starbucks, LIDL & McDonalds very close to ESB HQ where refreshments and toilet facilities are available. There will be designated spokespersons in the event of a media presence and also designated Marshals to ensure member safety. High Visibility Vests will be given to all ESBRSA participants. The protest is expected to last for 1 hour Approx.

Please show your support by turning out in large numbers for this protest !!!  Spouses & Partners are Welcome too!!

UPDATE 6th February, 2019

Retirement Notice, Frank McManus, Smart Energy Services.

Frank will be celebrating his departure from ESB on Friday 22nd February, in Kennedy’s of Westland Row, D2. Commencing from 6p.m. with the intention of continuing on to the small hours.

Frank started his career in Head Office, in research & development, working in the area of energy conservation and he was implicit in building 6 energy efficient houses in Kilcock in the 80’s. He then moved to key account management in customer services, working in the commercial and industrial sectors and now finishing up in Electric Ireland working in the R&D area of data analytics in Smart Energy Services.

Frank would love you to join him on the night, for an evening of refreshments and light banter.

Venue: Kennedy’s of Westland Row, D2 (Downstairs)

Time/Date: Friday, 22nd February from 6p.m.

UPDATE 5th February, 2019


THE PENSION PROMISE
Below is an extract summary of a report produced by ESB in 1996 titled History and Development of the Superannuation Scheme.
The third bullet point shows that Government intervention in our pension fund resulted in further liabilities for the fund.

See also previous items on the PENSION PROMISE below

 

Further to the January 3rd update this extract from the 2008 Pension Fund Annual Report confirms operation of the Pension Promise.


The photos here are of a pension booklet issued by Superannuation Group, Personnel Services, E.S.B.in July 1979 to staff.
In the text in item 29(b) Adjustment of Pensions it is clearly stated that
“In the case of all general Employee Pensioners and the majority of Manual Worker Pensioners, pensions are adjusted in line with the salaries of serving staff in the E.S.B.”

ESB, Will you honour the Pension Promise ?

UPDATE 29th January, 2019

Ollie Brogan, Managing Director, ESB International will be retiring from the company shortly.
Ollie’s retirement will be on the 31st May 2019. It will be held in the ESB International at One Dublin Airport Central, Dublin Airport, Cloghran

UPDATE 15th January, 2019

The extract below of an email covers probably the most important item from the recent Savvi AGM. This will enable members to communicate their views before its implementation. The extract goes as follows:

As you may be aware, Savvi Credit Union’s AGM was held on Friday evening last in The Convention Centre Dublin. During the AGM, a reduction in Death Benefit Insurance (DBI) and Life Savings Insurance (LS) was announced and discussed. Due to the reduction in the Credit Union’s income, principally due to investment market returns and the corresponding drop in the surplus generated, the Board of Directors is regrettably and very reluctantly having to implement a reduction in the level of DBI and LS cover for members.

DBI will reduce from €3,250 to €1,950

The maximum amount of share insurance will reduce from €7,700 to €3,000 and will be subject to the usual terms and conditions.

This reduction has not yet been implemented – members will be notified of the change in writing over the next couple of weeks and the letter will state when the changes will come into effect. There is no change to the Loan Protection Insurance (LP) and cover will stay the same where members up to the age of 70 have their loan balances insured.

This has been a very hard decision for the Board to take and was only done after months of exhaustive efforts to see if there were viable alternatives. As noted above, the reason for the reduction is that it is no longer financially feasible for the Credit Union to continue to provide cover given the associated costs. It is obviously not something that the Board wants to do, however, as the elected representatives of the Credit Union as voted for by the members, it is the responsibility of the Board to ensure that Savvi Credit Union can continue to operate and remain viably sustainable in the future for all members.

If members have any questions or concerns, the Credit Union can be contacted on 01-6325100 or e-mail hello@savvi.ie

UPDATE 8th January, 2019

 

Further to the January 3rd update this extract from the 2008 Pension Fund Annual Report confirms operation of the Pension Promise.

UPDATE 3rd January, 2019


The photos here are of a pension booklet issued by Superannuation Group, Personnel Services, E.S.B.in July 1979 to staff.
In the text in item 29(b) Adjustment of Pensions it is clearly stated that
“In the case of all general Employee Pensioners and the majority of Manual Worker Pensioners, pensions are adjusted in line with the salaries of serving staff in the E.S.B.”

ESB, Will you honour the Pension Promise ?

 

 

UPDATE 8th. December 1918

The National Executive Committee (NEC) wishes all members a peaceful and enjoyable Christmas.

UPDATE 22nd December , 2018

With regret we inform you of the death of Christopher (Noel) Reynolds , Portmarnock and late of E.S.B., 20th December 2018. Peacefully in the care of Beaumont Hospital, surrounded by his loving family. Beloved husband of Christina. Very sadly missed by his loving wife, daughter Susan, son Derek, son-in-law Davide, daughter-in-law Sebnem, granddaughter Maddalena, sister Olive, nieces, nephews, relatives, neighbours and friends. House private.
Rest in Peace
Reposing in Staffords Funeral Home, Strand Road, Portmarnock on Wednesday, 26th December, from 3pm to 5pm. Removal to St. Anne’s Church, Portmarnock on Thursday, 27th December, for 10am Funeral Mass, followed by cremation in Dardistown Crematorium. Family flowers only please. Donations, if desired, to the Irish Cancer Society.

RIP.ie notice for Christopher Noel Reynolds-Portmarnock-Dublin

UPDATE 20th December , 2018

With regret we inform you of the death of John Roche, Mountrath Rd., Portlaoise on Dec 18th.

Reposing at Keegan’s Funeral Home on Thursday from 6:30 pm with Rosary at 8 pm. Removal on Friday to SS Peter and Paul’s Church, Portlaoise, arriving for 10:00 am Requiem Mass. Internment will follow in SS Peter and Paul’s Cemetery, Portlaois

RIP.ie notice for John Roche, Portlaoise, Portlaois

UPDATE 7th December , 2018

The information below was received via Mairead Hayes CEO, Irish Senior Citizens Parliament
Tel: 01 700 8438
Website: www.seniors.ie

Earlier this year Minister Ross allocated funding of €200,000 for the first phase of the Accessibility App project. Following on from which Irish Rail are currently looking for volunteers who have mobility and vision impairments and who are regular DART users, to become part of a research panel which will include live testing of a prototype of the app. Details can be found at http://www.irishrail.ie/access-dart-app

“I would encourage those who would benefit from this technology to volunteer for the research panel so that they can provide the necessary feedback and input to ensure the app meets their needs,” the Minister said.

UPDATE 26th November , 2018

Photographs taken at the Allenwood Retired Staff Christmas Dinner 2018 at the Townhouse Hotel Naas on November 25th have been added to the Gallery

UPDATE 1st November , 2018

Link to transcript of Joint Committee on Pensions hearing of 25th October

UPDATE 26th. October, 2018

Following the representation by ESBRSA (ESB Retired Staff Assocation), RTERSA and Bord Na Mona pensioners representatives on 25th. October 2018 at a sitting of the Oireachtas Committee on Pensions, the links below will bring you to :

1. An article in the edition of The Irish Times newspaper, Friday, 26th October 2019

2. A recording of this Oireachtas Committee Meeting in Leinster House:
Link to Committee On Pensions 25 October>Link to video of hearing at Joint Committee on Pensions October 25
The coverage of the presentations starts at approx. 44 minutes into the video.

UPDATE 23rd. October, 2018

On Thursday October 25th. Three speakers

  • Mairead de Buitleir (RTERSA)
  • Colm O’Gogain (BNMRSA)
  • Matt Kelly (ESBRSA)

will address the Oireachtas Joint Committee on Pensions, on behalf of the collective group of Pensioner Representative Organisations including

ESB Retired Staff Association (ESBRSA)
Bord na Mona Retired Staff Association (BNMRSA)
RTE Retired Staff Association (RTERSA)
Bord Gais/ERVIA Retired Staff Association
CIE Pensioners Association
Eircom Pensioners Association
Retired Airline Staff Association (RASA)

 in Committee Room 4 at Leinster House at 10:15

The proceedings will be available live on the Oireachtas website
at Committee Room 4 on Thursday October 25th.

UPDATE 19th. October, 2018

The rise that fortnightly paid pensioners got today is the Trustees agreed paltry increase for 2018 of 1/5th. of one per cent</span including backmoney to 1st January 2018.

That’s equivalent of someone on the gross average pension of €26,000 a year getting an increase of €52 a year or €1/week – that’s what the 1/5th. of one per cent amounts to!

It’s the first increase in ten years!

UPDATE 12th. October, 2018

At MPF request we provide the information below.

Notice to MPF Members regarding issue of Policy Numbers

As a result of the new General Data Protection Regulations (GDPR) that came into effect on 25thMay 2018 – MPF and it’s Trustees have decided to issue all members with an individual policy
number. MPF in this way can ensure that our members data is protected along with ensuring our
compliance with the regulations.
Over the next four weeks, each MPF Member will be issued with a letter advising their unique
policy number. This number will replace the staff number that is currently being used for all
members on a policy.
For example – if you have a family policy with four members – each member will receive an
individual letter addressed to the member, advising them of their policy number.
Everyone, from a new born baby registered on a policy to a member who is retired, will receive
their own unique policy number. Please retain this information as this will be needed when
attending a Hospital or Medical Professional or when making a claim to the office.
MPF will be using policy numbers going forward and staff numbers will be phased out.
If a member does not receive a letter with their details by 31st October, please contact the MPF
office at 061-430561, e-mail at mpf@esb.ie or in writing to the office. MPF will reissue policy details.
You do not have to contact the office when you receive this letter.

___________________________________________

A section of the large attendance at Members / Trustees Meeting at Thomond Park 11th Oct 2018
Thanks to Elizabeth Kelly for the photo

UPDATE 11th. October, 2018

A last minute reminder that the DB Pension Fund Members / Trustee Meeting Thomond Park Stadium is on Today 11th. October, 2018

Doors Open at 4:00pm

Meeting begins at 4:30pm Sharp

ESBRSA urges that as many members as possible attend to make their views known to the Trustees

About 300 Members attended the Trustee / Members meeting at Aviva Dublin on 9th October 2018
Thanks to Michael Hughes for the photo

UPDATE 2nd. October, 2018

UPDATE 1st. October, 2018

WE NEED YOUR VISIBLE SUPPORT

The Trustees of the Scheme are holding a meeting in the AVIVA STADIUM (LANSDOWNE ROAD) Dublin on Tuesday 9th October  (More details below). This is an opportunity to support your Association and to let the Trustees and ESB Management know your feelings on ESB’s refusal to continue its traditional support for the Scheme.

Another meeting will take place in Limerick at Thomond Park on Thursday October 11th. details to follow. (See notice in Cork Branch page)

MAKE A STATEMENT BY YOUR PRESENCE IN DUBLIN ON  Thursday 9th October

FACT SHEET FOR PENSIONERS

This is an opportunity to support your Association and to let the Trustees and ESB Management know your feelings on ESB’s refusal to continue its traditional support for the Scheme.

Your pension will shortly be increased BY One Fifth of One Percent
For a pensioner on the average pension (€26,644) this means €53 per year or €1 per week. The vast majority of you do not get a state pension. Government and ESB ensured you could not contribute for a state pension because you were contributing to a secure indexed-to-pay-increases state occupational pension scheme.

Since you last got a pension increase the state pension
has increased by 9% or €1,040 per year or €20 per week.

Since the start of the pension freeze (2010-2017) inflation has been 5.57%
Staff have received pay rounds in 2015, 2016, and 2017 amounting to 7.7% .
To the end of 2017 you have received nothing; zero,

ESBRSA has served a claim on ESB and the pension fund for a 7.7% increase.

Details of the ESB DB (Direct Benefit) Pension Scheme Trustee Presentation in Dublin

Date: 9th October 2018
Location: Aviva Stadium, Dublin
Time: 4:30pm sharp (doors open at 4:00pm)
Light refreshments will be provided from 4:00pm

Parking
There will be 100 free car parking spaces located at the West End of the stadium which will be available on a first come basis. Entrance to this via Lansdowne Lane. There is also paid parking located just past the main stadium entrance. The car park is charged at €2.00 per hour, to a maximum of €10.00.

DART
The nearest train station is Lansdowne Road which is a short walk to the Aviva Stadium.

Buses
There are a number of buses which stop close to the Aviva Stadium. Please visit www.dublinbus.ie for further details.
For more information in getting to the Aviva Stadium please visit www.avivastadium.ie.

ESB ESOP

ONLY 28% OF SHARES SOLD

(OF THOSE OFFERED FOR VOLUNTARY SALE)

Internal Market Results Announcement
The Internal Market held on 24 September 2018 has now been completed.
PricewaterhouseCoopers (PwC), the Internal Market Administrator, has advised the
ESOP Trustee that the weighted average successful bid price was €1.09 per share (the
Market Price) and this is the price that will be paid to all successful sellers.
Please note that all forced sale shares were sold. Participants who offered shares for
voluntary sale at minimum prices equal to or below the market price have been
partially successful and sold approximately 28% of the shares offered.
PwC will be writing to all participants who submitted market forms. Payments to
successful sellers will be issued on 8 October 2018.
The ESOP Trustee will be writing to all participants in due course.

UPDATE 21st September, 2018

ESBRSA sent the letter below to ESB Group of Unions as dated.

ESB Retired Staff Association,
c/o 85 Limetrees Rd. East,
Douglas, T12 F85A
Co. Cork
10th Sept 2018

Mr. James Nolan,
Secretary,
ESB Group of Unions,
41 Merrion Square,
Dublin 2.

Dear Mr. Nolan,
I write on behalf of ESB Retired Staff Association representing pensioners including deferred
pensioners of ESB, all of whom are stake holders in ESB DB Pension Scheme just as current employee members of the scheme are stakeholders.

I write to bring your attention to a statement made by the Trustees of our DB Pension Fund in their report “Annual Summary Report 2017 For The ESB DB Pension Scheme” in respect of the Minimum Funding Standard (MFS).

The Trustees wrote “The current funding proposal will cease at the end of 2018 whether the MFS is met or not. The Scheme will then be subject to the new MFS regime which includes a requirement to provide a risk reserve. It is extremely likely that a new Funding Proposal will be required in 2019 from ESB and the Trustees to address this risk reserve. Agreeing a new funding proposal will be an onerous challenge.”

This retired Staff Association regards it as vitally important, for both existing pensioners and for existing employee members both now and when they retire, that ESB’s future liabilities to the Scheme are properly and fully recognised in any MFS proposals put by ESB and the Trustees to the Pensions Authority from 2019. RSA is seeking an open and transparent process including representation from ESB Retired Staff Association in the development of any such proposals in the interests of all Scheme members.

Our Association views this MFS issue as particularly critical in view of the yawning gap between the ESB statement in its 2017 Annual Report (Ref 1) (and earlier Annual Reports) , concerning its obligations to the pension scheme along with its stated intention of not making further contributions, and your Group’s statements, recorded in your letter to ESB board members dated 16th Dec 2013 and Byrne and Wallace letter to ESB Chairman dated 3rd March 2014 on behalf of your Group, notwithstanding the LRC letter to the parties of 8th Dec 2013.

ESB used a temporary genuine crisis to permanently undermine the pensions of all Scheme
members. The 2010 Agreement between ESB and your Group needs to be viewed as of its time and
now unfit for purpose. While CARE is a matter for current employees, all other aspects of the
pension scheme are a matter for all scheme members and scheme members as a body never agreed
to forego the traditional indexing. If your Group were to embrace this idea it could be a useful starting point for trying to secure a return to the traditional indexing we were all promised.

This Association fully supports the sentiments and assertions set out in your letter to Board
members on 16th Dec 2013 and by Byrne Wallace on your behalf in their letter to ESB Chairman on 3rd March 2014

Finally, I wish to advise you that this Association has served a claim for a 7.7% pension increase against both ESB and ESB DB Pension fund, jointly and severally. The most recent pension increase paid was on 1st Jan 2009; the state pension has increased since then by 9% or €1,040 per annum; and staff have been awarded 3 pay rounds aggregating to 7.7% in the period 2015 to 2017. You are also likely aware that the Pension Fund has undertaken to pay a pension “increase” shortly of one fifth of one percent worth, on average, €53 per pensioner per year in accordance with the terms of the 2010 Agreement, an outcome that your Group hardly envisaged in 2010.
Trusting that RSA can look forward to a constructive working relationship with your Group in the months ahead,

Yours faithfully,
Jim Devlin
H. Sec., ESBRSA.

Attachments:-
Our Ref. 1;
LRC Letter 8th Dec 2013;
GoU Letter 16th Dec 2013 to ESB Board Members;
Byrne & Wallace Letter to ESB 3rd March 2014.
ESB Retired Staff Association

Recipients
 Mr. Janes Nolan, Secretary, ESB GoU, 41 Merrion Sq., Dublin 2.
 Mr Paddy Kavanagh, Connect Trade Union, ESB Section, 6 Gardiner Row, Dublin 1.
 Mr Fran O’Neill, General Secretary, Energy Service Union, 43 East James Place, Lower Baggot
Street, Dublin 2.
 Mr Greg Ennis, Transport, Energy, Aviation and Construction Division, Services, Industrial
Professional and Technical Union, Liberty Hall, Dublin 1
 Richie Browne, Unite the Union, ESB Section, 55-56 Middle Abbey Street, Dublin 1.
 Ms Patricia King, General Secretary, ICTU, 31-32Parnell St. Dublin 1.

Ref 1. Annual Report and Financial Statements 2017
ESB stated:
The obligations to the Scheme reflected in ESB’s financial statements have been determined in accordance with IAS 19 Employee Benefits. Given that the Scheme is not a typical “balance of costs” DB Scheme (where the employer is liable to pay the balance of contributions to fund benefits) the obligations to be reflected in the financial statements require the exercise of judgement. Should a deficit arise, the Company, as noted above, is obliged to consult with the parties to the Scheme.
However, ESB has no obligation to increase contributions to maintain benefits in the event of a
deficit and the Company does not intend that any further contributions other than the normal
ongoing contributions and the balance of the Company’s €591m additional contribution

(committed as part of the 2010 Pension Agreement) will be made.

UPDATE 18th September, 2018

REMINDER !

The Dublin Region and Head Office Branch September Social will take place today Tuesday 18th September in Wynn’s Hotel, Abbey St. Dublin 1 at 2:30pm
A solicitor will speak on Enduring Power of Attorney, Wills and Fair Deal topics.There will be refreshments and music to follow.

UPDATE 9th September, 2018

We thank Bernard Durkan TD who obtained the letter below from Regina Doherty TD Minister for Employment Affairs and Social Protection.
At present the Bill only proposes a 12 month notification period where an employer is seeking to cease making contributions to a scheme

UPDATE 8th September, 2018

Press Release – ESB Retired Staff Association September 8, 2018

Claim for Pension Increase

ESB Retired Staff is now in dispute with ESB and the Trustees of ESB Defined Benefit Pension Scheme but as pensioners we do not have procedures available to us to assist in achieving fairness and justice for our members.
A claim for a pension increase of 7.7% has been lodged against both ESB and ESB Defined Benefit Pension Fund, jointly and severally. We have been offered one fifth of one per cent (0.2%), which on the average ESB pension of €26,000 amounts to €52 per annum, or €1 per week – a derisory offer after nearly 10 years of a pension freeze. The State Pension has increased by 9% between 2010 – 2018 – €1,000 per annum, or €20 per week. Most ESB pensioners don’t have a State Pension.

Staff in ESB received salary increases of 7.7% over a 3-year period 2015 – 2017. Prior to 2010, traditional indexing of pensions applied to pensioners with pensions linked to staff salaries increases. ESBRSA want restoration of this traditional indexing, which was custom and practice in ESB for over 40 years up to 2010.

No Legal Protection for Employees & Pensioners

There is no guaranteed protection for employees and their pension rights in Irish Law.
The Government currently have a Bill entitled “the Social Welfare, Pensions and Civil Registration Bill 2017, before the Oireachtas. It is at Committee stage with amendments likely to go before the Committee after the summer recess.
The proposals to be introduced at Committee stage include a 12-month notice period if an Employer intends to cease contributions to their Pension Scheme but there is nothing to prevent an Employer “walking away” from their Pension Schemes after the 12-month notice period
There must be financial consequences for Employers who abdicate responsibility for their Pension Schemes and fail to make contributions to resolving deficits that arise in their Schemes and that consequence should be a resulting debt on the Employer for the amount of the unresolved deficit. IBEC, the Employer lobby, are working hard to prevent this happening. They cannot be allowed to succeed. This debt on employer concept must be enshrined in Irish Law. Remember the Waterford Glass and Irish News & Media pensioners. We cannot have a repeat of these situations.
The Government launched the well-publicised “Roadmap for Pensions Reform” earlier this year. They propose to introduce auto enrolment for a new Government backed Pension Scheme in 2022. One cannot honestly expect workers to sign up to a new Pension Scheme unless existing pensioners are fully protected in law. The Government needs to wake up to this fact and ensure that the law fully protects employees and their pension rights.

A group of the major Semi-State Companies Pensioner’s Associations has formed to counterbalance representations made by IBEC and Semi State Employers on the Social Welfare, Pensions and Civil Registration Bill 2017, seeking to enhance their credit ratings by removing the debt on Employer Obligation from the Bill and so jeopardising pensioners rights.

Contact Tony Collins phone 086 8197083

UPDATE 6th September, 2018

Members of the ESB Defined Benefit Scheme will have received the Annual Report Summary 2017 in the post recently.

There will be two member’s event meetings this year, one in Dublin and one in Limerick.

The details known at present are :

Location:   Dublin

Date:            Tuesday 9th October 2018

Time:            5:00p.m.

AND

Location:   Limerick

Date:           Thursday 11th October 2018

Time:          5:00p.m.

We urge as many members as possible to attend these events.

We note that the Committee has decided to award a pension increase of one fifth of one per cent in 2018. This is a derisory, token increase, to pensioners who have had no increase for nearly ten years.

The Superannuation Committee members are :    The Trustees are:
Marina Hunt (Chairperson)                                        Tony Donnelly (Chairperson)
Ann Carroll                                                                 Anne Marie Keane (from December 2017)
John Carton                                                                Adrian Kelly
Adrian Fox                                                                  Michelle Mullally (to November 2017)
Arthur Hutchinson                                                       Diarmuid Murphy
Sean Kelly                                                                   Pat Naughton
Louise Murphy                                                            Peter van Dressel
Margaret O’Connor
John O’Sullivan                                                              Secretary and Group Pensions Manager is                                                                                               James O’Loughlin

UPDATE 31st. August 2018

The following messages are posted at the request of John Conneely | Office Manager ESB Medical Provident Fund

AGM Notice & Agenda
The Trustees, in accordance with Rule 9.3, have convened the Annual
General meeting of the ESB Staff Medical Provident Fund for the
following date and venue:
Date: Thursday, 20th September 2018
Venue & Time Castletroy Park Hotel, Limerick. @ 5.30pm
Agenda
1. Minutes of AGM held on 21st
September 2017
2. Trustees Annual Report for year ended 31 December 2017
3. Audited Accounts for year ended 31 December 2017
4. Any Other Business

2018 MPF Trustee Election Results
The election count for the 2018 MPF Trustee Election took place on 30th August 2018
and Mary Daly, Joe La Cumbre, Noreen Ryan and Peter Sheehy were elected as
Trustees.
Congratulations to Mary, Joe, Noreen and Peter and also a big thank you to all
candidates for their commitment to our Fund.
The four year term for these Trustees will commence after the 2018 AGM which this
year will be held in the Castletroy Park Hotel, Limerick on Thursday 20th September at
5.30pm

___________________________________________________________________

The following message is posted by ESBRSA

Following the count of votes for election of ESB Medical Provident Fund Trustees the results are posted below.

The ESBRSA recommended candidate got a very respectable  1,120 votes but was short by 105 votes of being elected.

Tony sends his thanks to all who voted and supported him in his first candidacy.

He also sends congratulations to the successful elected Trustees and best wishes to the other candidates.

The four elected Trustees are
Joe LaCumbre
Noreen Ryan
Mary Daly
Peter Sheehy

The count results are as follows

Joe La Cumbre           2581
Noreen Ryan              2200
Mary Daly                   1595
Peter Sheehy              1225
Michael Mcnamara      1222
Tony Smyth                1120
John Huggins             1070
Jeremiah Murphy          945
Michael Clair                 824

Total Poll was            3609

UPDATE 23rd.August 2018

At MPF request we post the following reminder
The closing date for the return of voting papers for the MPF Trustee Election 2018 is Tuesday 28th August 2018.

Please also note the ESBRSA Reccomendation to vote for Tony Smyth in the upcoming Medical Provident Fund (MPF) Election.

_______________________________________________________________

UPDATE 23rd.August 2018

ESB ESOP Trustee Limited
The Trustee of the ESB ESOT intends to operate an Internal Market on 24 September 2018 (the Market Day). Further information and confirmation of the Market Day will issue to participants.
ESB ESOP Trustee 22 August 2018

______________________________________________________________________

UPDATE 23rd. July 2018

ESBRSA urges all staff and pensioners to vote for Tony Smyth in the upcoming Medical Provident Fund (MPF) Election.

Tony’s candidacy is supported by ESBRSA. 

Retired Member (Pensioner/VS) Candidate

Name Tony Smyth

My Background

• Joined ESB 1964, Shift Worker in Poolbeg until 1998
• Master of Industrial Relations NCI, H.Dip. in Adult & Community Education, Maynooth University
• Member Dublin Region Branch ESB Retired Staff Association

Why I would make a good Trustee of the ESB Medical Provident Fund

• I am very concerned at the increasing cost of medical insurance and level of cover for families and particularly for retired staff.

• As Shop Steward during my career in ESB, I have experience in representing ESB Staff for many years and will make every effort to optimize ESB MPF for the benefit of all of its members.

• The latest MPF Trustees’ Report and Financial Statements (2016) show reserves of over 40 Million Euro which have been built up over the contributing lifetimes of our members. These funds need intense scrutiny as to how to be best used in the interests of the members who paid for them.

• While not neglecting the younger members, I have a heightened awareness of the
issues facing elderly staff and those nearing retirement. I would work, in particular, to build a closer bond between members and Trustees and to increase the number of elected members on the Board of Trustees.

Tony Smyth
Mobile 085 158 6904
email tonydessmyth@live.ie

UPDATE 22nd. July 2018

ESBRSA is affiliated to the National Federation of Pensioners’ Association (NFPA). The link below will bring you to a letter submitted to the EU by NFPA regarding Pensions Legislation
NFPA Letter to EU re Pensions Legislation

UPDATE 27th. June 2018

ESBRSA is affiliated to the Irish Senior Citizens Parliament (ISCP). The link below will bring you to the Report of the ISCP Annual Parliament News Issue dated June 2018.
ISCP & APM news in brief June 2018

UPDATE 22nd. June 2018

Additional Death Benefit (ADB)
The following correspondence between ESBRSA and Pensions Manager ESB
will be of interest to any staff member who contributed for the optional ADB scheme.

Mr. James O’Loughlin,                                                                                                             Ebilou,
ESB Group Pensions Manager, 2 Gateway,                                           Loughlinstown Celbridge
East Wall Road,                                                                                                                   Co. Kildare
Dublin 3,                                                                                                                              W23 XFW1
D03 A995
12th April 2018

Re: Additional Death Benefit

Dear James,
In 1988 ESB General Employees’ Superannuation Scheme introduced the Additional Death Benefit Lump Sum Scheme. (the Scheme) (ADB). Members of the ESB Pension Scheme had the option of paying an additional contribution in return for an additional lump sum payable on death. The additional benefit, including standard benefits under the ESB Pension Scheme provided a death benefit of up to four times pensionable salary on death before age 55, reducing each year up to age 60. On death after age 60, if the member was retired, a benefit of 20% of actual pensionable salary at age 60 would be payable to the member’s estate. This benefit at age 60 was increased to 30% circa 2008.

It has come to ESBRSA’s attention that Scheme members (or their Estate), who were members of the ADB Scheme, are not being notified of the benefit payable under the ADB Scheme in the event of their death. In one such case a widow of an staff member who died in July, 2017 was never informed of her late husband’s entitlement to the 30% ADB at the time of his death. It was a chance meeting and conversation with an RSA member within the last month or so that prompted her to contact ESB Pensions about it in March 2018. She has since been informed that her husband had been a member of the ADB Scheme and has only received a cheque for the appropriate amount within the last week.

This begs the question as to how many other members of the ADB Scheme have passed away and their Estates have not received their entitlement to this benefit. I’m sure that there are also many pensioners still living, who are members of the ADB Scheme and are not aware of their entitlement to this benefit.

As a matter of urgency, by way of this letter, I am requesting that ESB Pensions carry out a thorough check of their records in relation to this benefit and write to all pensioners informing them of their entitlements. In cases where the member is now deceased, and has not received
their benefit, to write to their spouse (or next of kin) with a cheque for the appropriate amount of benefit due.
This is a very serious matter for members of the ADB Scheme and I trust that you will treat it with the urgency that it deserves. ESBRSA will be publicizing the details of the Scheme by way of its Branch network and through our website. I look forward to hearing from you with confirmation of actions taken to resolve this matter.
Yours etc

 

UPDATE 7th. June 2018

At MPF request the following notice is published on the website.

UPDATE 23rd. May 2018

Atendance at ESBRSA HO Branch at Wynn’s Hotel Dublin 2 on 22nd. May 2018
With thanks to Michael Hughes for the photo

UPDATE 16th. May 2018

REMINDER

ESB RETIRED STAFF ASSOCIATION, HEAD OFFICE BRANCH
NOTICE OF AGM 2018 AT WYNN’S HOTEL

The 25th Annual General Meeting will be held at Wynn’s Hotel
Lower Abbey Street, Dublin, on Tuesday 22nd May 2018 at 2.15 pm.
The Branch Committee hopes that as many members as possible will attend.
There will be reports on the following:
 ESB/RSA FORUM.
 CURRENT PENSION LEVY STATUS AND PENSION INCREASE.
 LACK OF COMMUNICATION FROM PENSION FUND TRUSTEES.
 COMPARISON OF MPF SUBSCRIPTIONS WITH OTHER INSURERS.

UPDATE 12th. April 2018

The following letters addressed to Chairman of Trustees, ESB Pension Scheme, and copied to all Trustees and members of the Superannuation Committee, are now displayed on the website in order to inform the RSA membership of the range of issues that the Pension Fund Trustees have yet to address following their meeting in Croke Park on 12th September 2017 attended by almost 500 members from many parts of the country. This meeting came about as a result of sustained pressure on Pension Scheme Management and Trustees by ESBRSA to address the range of issues outlined in the two letters. The letters are self-explanatory and ESBRSA continue to follow up with the Trustees for a response to the issues raised.


Mr. Tony Donnelly,
Chairman ESB Pension Fund Trustees,
2 Gateway,
East Wall Road,
Dublin 3,
D03 A995

9th March 2018

Dear Tony,

I refer to my very comprehensive letter to you dated 19th September 2017 which issued following the meeting in Croke Park on 12th September 2017. To date I have not received a response to the issues raised in that letter.

I now wish to address one particular issue i.e. that of a pension increase, or the lack thereof, for pensioners since January 2009. It is unconscionable that pensioners be denied an increase in their Pensions any longer given the current climate in the service sector and industry in general and the wage increases that have been awarded recently, 2.5% per annum being the norm for most sectors. With an annual pensions payroll cost of circa €200 million, the cost to the Fund of a 2.5% pension increase would be a minimal €5 Million approx.

The “Roadmap for Pensions Reform” launched by the Government recently has outlined how best to benchmark pension increases in the future and I quote

“Institute a process whereby future changes in pension rates of payment are explicitly linked to changes in the consumer price index and average wages”.

The use of CPI alone is not an appropriate measure for determining whether a pension increase should be granted or not. This is also borne out by the fact that the State Pension has increased dramatically and well above the cost of living index in the last 3 Budgets.

ESBRSA do not accept the very weak arguments that have been made to deny pensioners an increase for more than 9 years now, Fund solvency, CPI, and MFS deficit. These arguments were challenged at the meeting in Croke Park and can be summarised as follows:

1. The 2010 Pensions arrangement, agreed unilaterally with ESBGoU, has imposed severe hardship on pensioners for the past 9 years, subjecting them to an indefinite pay freeze and breaking the traditional link with salaries. It was not endorsed by All Scheme members. Pensioners had no input to its terms, and most importantly had no vote, even though they represented more that 50% of the Scheme membership at that time?

2. Were the Trustees acting fairly between beneficiaries and in the interests of All beneficiaries in endorsing this Agreement, Do the Trustees believe that this was a fair and equitable Agreement in that context?

3. There was no built-in review mechanism in this arrangement with the ESBGoU. It needs to be revisited in the context of the aforementioned facts.

4. The actuarial assumptions used by the Scheme Actuary in the 2014 Actuarial Valuation were very much exposed as overstated and inaccurate, particularly in the case of a 1.75% assumption for pension increases and mortality assumptions.

5. RSA will be monitoring very closely the results of the 2017 Actuarial Valuation and critically analysing, with independent actuarial advice, the assumptions used by the Scheme actuary

6. Even if one looks at 9-year period of a prolonged pension freeze, the CPI increased by 5.1% from 2010 to 2016 inclusive. This is apart from the fact that ESB staff have been granted salary increases of 7.5% over a 3-year period (despite no increase in CPI), and traditionally pension increases have followed the staff salary increases.

7. When one examines the Funding Proposal submitted to the Pensions Authority in 2012 to meet the Minimum Funding Standard shortfall, the weak argument for the non-inclusion of a pension escalation rate is the condition of passing a solvency test. Ironically, one of the main the reasons for not passing the test is the inclusion of an assumption of 1.75% for pension increases. RSA’s actuary clearly stated that an assumption for pension increases of 1.75% per annum on an ongoing basis, without having allowed for one single year’s increase inflates Scheme Liabilities by more than €700 million. Yet the Scheme actuary saw fit to include in the MFS Funding Proposal assumptions of 4% for salary inflation, 3% for CARE revaluation and 2% for price inflation. His assumptions and arguments for both the MFS and ongoing actuarial valuations are full of contradictions.

ESBRSA would welcome an opportunity to meet with you and your fellow Trustees to discuss this letter and the issues raised in my previous letter of 19th September 2017.

I look forward to hearing from you,
Yours sincerely,
Michael MacNamara, Hon Secretary National Executive, ESBRSA
Copies to Trustees & Committee


Mr. Tony Donnelly,
Chairman ESB Pension Fund Trustees,
2 Gateway,
East Wall Road,
Dublin 3,
D03 A995

19th September 2017

Dear Tony,

I would like to take this opportunity, on behalf of ESBRSA, to thank the Trustees for organising the meeting on 12th September 2017 and all those who made presentations on the night. I would also like to congratulate the Trustees on the investment returns for 2016 and the manner in which the Fund Investments have been de-risked and diversified in recent years.

There were many questions asked during the Q & A session and other issues were not raised or expanded on due to the time constraints. I would like also to take this opportunity to expand on some of those issues and to ask questions that were not raised on the night.

The decision to hold a meeting at 7 pm in Dublin was unfair to members living and working in many parts of the country. Pensioners from various country locations did not attend for that reason. However, despite the timing and location of the meeting many travelled in numbers from Bellacorick, Waterford, Cork, Lanesboro, Galway and Portlaoise. The Pensions Manager was asked whether consideration was given to holding a meeting at 1 or 2 pm to facilitate pensioners traveling from those locations on public transport. I would suggest that due consideration be given for any future events.
I’m sure the Trustees were left in no doubt as to the feelings of the general membership at that meeting on the 12th September 2017 – one of great frustration and anger at the way pensioners have been treated by Pension Scheme management. Yet pensioners behaved with great dignity, respect and a measured response on the night.

2010 Pensions Arrangement/Agreement

A direct question regarding the 2010 Pensions Agreement was asked on the night and no answer was given viz., were the Trustees acting fairly between beneficiaries and in the interests of All beneficiaries in endorsing this Agreement, given that pensioners had no input to its terms, and most importantly had no vote, even though they represented more that 50% of the Scheme membership at that time?
Do the Trustees believe that this was a fair and equitable Agreement in that context?
This Pension Agreement or Arrangement, negotiated with ESBGoU, excluded pensioner members completely,

The Pensions Authority defines “Member” as

“A person who has been admitted to membership of a pension scheme and who is entitled to benefits under the scheme. This will include active members, pensioners and deferred pensioners”

This Arrangement with ESBGoU has severely disadvantaged pensioners as a group, subjecting which means all pensioners have suffered a reduction in the real value of their pensions up to 15 %, and greater in some cases. The absence of a built-in review mechanism in the 2010 proposals will further disadvantage pensioners. This Arrangement unilaterally changed their pension arrangements that had existed for decades.

ESB, also unilaterally closed the DB Scheme circa 2009, cutting off the flow of new contributions and thereby abandoning the traditional pensions model. Have you as Trustees challenged ESB, as sponsoring employer, on this course of action, reneging on its responsibilities to support the Scheme and failing to honour the employment contracts of all existing staff and pensioners?

We note that the Auditor stated in ESB 2016 Annual Report that All Pension Scheme members accepted 2010 Pensions Agreement. This is inaccurate, pensioners did not have a vote so less than 50% of Scheme members (serving staff only) were allowed to vote on that Agreement and only a minority of those actually voted. Those who voted to accept the Agreement were very much a minority of the total Scheme membership. Have the Trustees challenged ESB on that inaccurate statement?

Actuarial Assumptions

I believe that the actuarial assumptions used by the Scheme Actuary in the 2014 Actuarial Valuation were very much exposed as overstated and inaccurate, particularly in the case of a 1.75% assumption for pension increases and mortality assumptions. ESBRSA engaged the services of an actuary to critically review the 2014 valuation and argue the case for a pension increase. He compiled a very detailed analysis and a very comprehensive report. The Superannuation Committee refused to attend a presentation
of this report by ESBRSA’s actuary so the Pensions Manager presented it to the Committee himself.

After a protracted period of more than 8 weeks ESBRSA finally received what we would regard as an insulting response to their very detailed report stating that the 2014 Actuarial Valuation –
a) Best reflects the actuarial position of the fund.
b) Is in line with best practice.
c) Uses appropriate assumptions.
d) Is consistent with the rules of the scheme and current governance structures.
ESBRSA’s actuary stated that an assumption for pension increases of 1.75% per annum on an ongoing basis, without having allowed for one single year’s increase inflates Scheme Liabilities by more than €700 million.
In the 2011 valuation the assumption for pension increases was 1.9%, these assumptions being made in a period of a prolonged pension freeze.
The assumptions for mortality rates are greater than those recommended by the Society of Actuaries. Such notional assumptions for each year that the Fund will exist as a ‘going concern’ into the future will have a dramatic effect on liabilities. If one was to exclude such generous assumptions, the Fund would have had significant surpluses in the past and will into the future.

ESBRSA were disappointed that the Pension Fund Actuary from Mercer’s, Liam Quigley, did not defend his assumptions when they were challenged on the night.

ESBRSA would also welcome an opportunity to discuss the actuarial valuation with you and are willing to provide a copy of our actuary’s report for discussion.

Pension Increase

You were quite emphatic in your response to the call from members for a pension increase with, fund insolvency, MFS funding deficit, no increase in CPI, given as reasons for not granting an increase. Many pensioners, particularly those on low pensions have suffered hardship with a considerable reduction in their nett income due to increased medical, motor and home insurance costs, USC charges and property tax affecting their fixed incomes. CPI is not an appropriate measure for determining whether a pension increase should be granted or not as many of the above measures are not included in it. However, when one looks at the period of a prolonged pension freeze, the CPI increased by 5.1% from 2010 to 2016 inclusive. In addition to the aforementioned charges pensioners have suffered a further real reduction in their pensions of 5.1%..They should be compensated for this. ESB staff have been granted salary increases of 7.5% over a 3-year period (despite no increase in CPI), and traditionally pension increases have followed the staff salary increases. You denied any link between staff salary and pensions, whereas ESBRSA would argue that pensions were always linked to salaries, and they were not party to any negotiations, nor did they agree or vote on any changes to custom and practice that existed for decades.
With the cost of paying pension benefits running at €200 million annually, a 2% pension increase would only cost the fund an additional €4 million, very affordable, given the grossly overstated actuarial assumptions as outlined in the previous paragraph.

Minimum Funding Standard (MFS) Valuation.

It was acknowledged by the Scheme Actuary, and if I’m not mistaken, also by you, that the MFS is not an appropriate method of valuation for the ESB DB Scheme, given that it is highly unlikely that the Scheme will wind up. This method of valuation grossly overstates Scheme liabilities, particularly the highly inflated cost of buying annuities. There is an extremely limited market for annuities thus the inflated cost. This makes it extremely difficult for the Fund to stay on track with its funding proposal. It must be seen as a priority for Pension Scheme Management to take all necessary steps to obtain an exemption from this regulatory requirement.
What continuing actions are Trustees taking with relevant Government Departments and Bodies like Pensions Authority to ensure that the inappropriate MFS regulatory requirement is removed from ESB DB Pension Scheme?

In the context of the MFS funding proposal, the Trustees decided to eliminate any provision for discretionary payments from the Pension Scheme for a period of six years. I would submit that this is contrary to the clause in the 2010 Pensions Agreement, governing the Solvency Test for the payment of pension increases from 1st January 2014 and I quote

“ The Solvency level under the Ongoing Actuarial Valuation is 100% or greater after allowing for payment of the proposed pension increase”

In your 2015 Pension Scheme Report you indicate that a funding proposal was submitted to the Pensions Authority in 2012 which aims to resolve the MFS deficit by end of 2018. Is there any financial liability on ESB as part of that proposal?
Have ESB made any funding commitments as part of that proposal either in the form of additional contributions or the use of Company assets as security contingent on the Scheme failing to meet agreed funding levels?

The 1995 (Miscellaneous Provisions) Act

The 1995 (Miscellaneous Provisions) Act was only a vehicle used to amend the primary legislation for the Pension Scheme i.e. Section 7 (1) (b) of Electricity Supply Board (Superannuation) Act, 1942 as follows:

(b) provide (save as otherwise by this section) that every person entitled to superannuation benefits under the scheme shall pay contributions to the said fund and that the Board shall from time to time make to the said fund payments as are determined by the actuary to the scheme
Section 7 (1) b of that Act has been permanently amended and remains on the statute books. Why were the rules of the Pension Scheme not changed to reflect the change in legislation?
This wording, I believe, is typical of a “balance of cost scheme” where all risk is borne by the sponsoring employer.

In “considering” the above-mentioned legislation, have you, at any stage, in recent years challenged ESB legally or otherwise with regard to their statutory obligation under this legislation? Your answer to this question on the night was most unsatisfactory. You stated that the Trustees took legal advice on this issue and based on this advice you decided to take no action whatsoever.
You went to great lengths to remind the meeting that it was the duty of Trustees to act at all times in the interests of All Scheme members. The very fact that you have not challenged ESB on its statutory obligation under the amended 1942 legislation is certainly not, in ESBRSA’s view, acting in the interests of All Scheme members, because certainty on ESB’s statutory obligation would guarantee the security of future Scheme funding.
You also went to great lengths to outline the difficulties that the Pension Fund is likely to face in the future so it’s unbelievable that you would not mount a legal challenge on this extremely important issue.

It was made very clear to you on September 12th that in the context of ESBRSA’s challenge to your application of the Government Pensions Levy you did not hesitate to engage expensive legal opinion at both the Equality Tribunal and at the Labour Court against some of your own Scheme members.

It would also be of particular interest to All Scheme members that you and your fellow Trustees would challenge ESB’s statements in its Annual Reports for the last 5 years that it has no obligation to increase its contributions to the Pension Fund, under any circumstances, in the event of a deficit. This is contrary to ESB statutory obligations under the amended 1942 Act and also another very valid reason to mount a legal challenge in the interests of All the Scheme members.

Have the Trustees also challenged ESB on the fact that they have derecognised a €1.6 billion pension liability in the Company accounts for 2010. This amount referred to the Company’s liability for pensions which appeared in the Company accounts for 2009 and was removed in the 2010 accounts.

Pension Levy

Your answer to a question regarding the abolition of the current levy deduction from pensions was an emphatic “no”.
The levy as is, is unfair in that pensioners only are paying. The recovery of the levy should have been divided between the three stakeholders in the Fund:

a) E.S.B.
b) Contributing Members
c) Pensioner and deferred pensioners

Trustees should continue to seek the appropriate contribution from ESB to the Pension Levy, namely 2:1 ratio, and that this is in the interests of All Pension Scheme members.

I would invite the existing Trustees to an independent arbitration for a hearing on the case outside of a legal process.

You stated that the levy being currently recovered from pensions was in respect of the levy payments for 2011 & 2012, €36 million approx, and that the deduction was calculated on the basis that it would be for the lifetime of current and future pensioners.
You also stated that it would be very unlikely that the levy payments in respect of 2013, 2014 & 2015 would be recovered from pensioners. Your argument in 2013 for applying the recovery of the levy was that the Pension Fund was in a very difficult financial position at that time and that the Fund Actuary advised that the payment of the levy should be cost neutral to the Fund. The Scheme finances have now greatly improved.

A further question was asked regarding the treatment of the Government Levy in the Pension Fund accounts, the levy payment being shown as a charge, yet the recovery of the levy was not shown as a separate income stream.
Why is the Income Stream from Pensioners for the Pension Levy not shown clearly in the Pension Scheme annual accounts?
Based on the scenario that you put forward i.e. that the Pension Scheme will most likely be in existence for another 80 years and that the recovery of the levy from pensioners amounts to €2 million per annum, I believe that the calculation for the recovery of the €36 million payments for 2011& 2012 over the lifetime of the Fund has been grossly overstated as the amount recovered will be well in excess of the €36 Million, possibly up to three times that amount. A full review of the levy recovery needs to be undertaken.

Industrial Council Recommendations 2354 & 2354a

I am now asking you to respond to the issue of joint industrial council recommendations 2354 and 2354(a) issued in 1992 and 1993 dealing with the aftermath of the 1981 comprehensive agreement and the merging of the manual workers and general Superannuation Schemes.

“Are you and your fellow Trustees aware of the background to these JIC recommendations and have you challenged the company and ESB GoU on their failure to honour this undertaking”.

Pension Scheme Governance

It was very clearly stated by ESBRSA at the September 12th meeting that the Pension Scheme Governance is not fit for purpose given that almost 70% of members are now either pensioners or deferred pensioners. The changing demographics of the Scheme membership means that that figure of 70% will increase dramatically in the next eight or ten years. The Superannuation Committee is totally unrepresentative of the Scheme membership as only serving staff (30%) are represented by this Committee. This has been acknowledged by the Company. This needs to be addressed without further delay and pensioners need to have representation proportionate to their numbers on both the Trustees and the Superannuation Committee. I disagree with your argument that it is irrelevant whether pensioners have increased representation on the Trustees or not, because when elected, Trustees are required to represent the interests of all members.

I would also disagree with your contention that elected Trustees should not liaise with the constituency that elected them. All Trustees, and particularly elected representative Trustees, have a duty to account for their stewardship of the members assets once elected. Why do all Trustees, and particularly elected Trustees, refuse to meet with Pensioner Representatives once elected while continuing to meet with active member representatives and sponsor representatives? Prior to 2010 it was always the case that elected Trustees would meet with either Trade Union or RSA reps. I don’t see why it should be any different now. When are the Trustees going to address the changes necessary to the Pension Scheme Rules to admit pensioner representation on all Governance Committees on a proportionate representation basis given the current and future demographic on the Pension Scheme?

Given that you disclaimed any responsibility for the pre-selection or election process for Trustees we will take this issue up with the Company shortly.

I trust that you will treat this letter with the importance that it deserves and that you will endeavour to respond to the questions raised. Alternatively, ESBRSA would welcome an opportunity to meet with you and your fellow Trustees to discuss this letter.

I look forward to hearing from you,

Yours sincerely,
Michael MacNamara, Hon Secretary National Executive, ESBRSA / copy to Trustees

UPDATE 9th. March 2018

REMINDER

ESB Retired Staff Association
Head Office & Dublin Region Branches

Dear Member,
It’s time for yet another Branch Social event. Our Social Event last March was well supported and all those who attended had a very enjoyable afternoon. The details for the next event is as follows:

Event: Social Gathering

Venue: Wynn’s Hotel, Abbey Street

Date & Time: Tuesday 13th March 2018 at 2 pm

There will be a guest speaker from ESB Archives to bring us through the range of archived material now available online and to explain how to get access to this material. There will also be an opportunity for questions afterwards.

There will be a break for refreshments followed by some quality musical entertainment from Tommy Fox who entertained us at the last Social event. The most important aspect of these gatherings is to give members an opportunity to meet and catch up with former work colleagues in a comfortable environment.

Spouses/ partners are welcome and refreshments will be provided

We hope to see you there!

UPDATE 7th. March 2018

With regret we inform you of the death of our colleague Tom Shortall, 68 St Brigid’s Square, Portarlington. Prior to retiring Tom worked at Portarlington Generating Station and later at Portlaoise Training Centre.

Reposing at his residence on Thursday from 1pm with rosary at 9pm. Removal on Friday at 11am arriving at St Michael,s Church, Portarlington for Requiem Mass at 12 noon. Funeral afterwards to St Michael’s cemetery Portarlington.

RIP.ie notice for Thomas (Tom) Shortall / Portarlington / Laois

UPDATE 29th. January 2018

We have found some information re competition in Health Insurance costs (See the link below). RSA asked that ESB MPF consider freezing subscription increase for 3 years.
MPF have committed to revert to RSA – sometime – and the review date of 1st April is not far away.
Link to information re Health Insurance Cost Reductions

UPDATE 9th. January 2018

We have learned that ESB has decided to match the Optical, Hearing and Dental Benefits available under the Department of Employment Affairs and Social Protection which restored some benefits from 28 October, 2017
http://www.welfare.ie/en/Pages/Treatment-Benefit-Fees-Payable.aspx

The claim forms are available on the ESB Staff Services website
http://www.esbstaffservices.com/human-resources/medical-benefits/

It is to be noted that claims must be submitted within 3 months of treatment being carried out so it would be important for any claims from 28 October 2017 to be submitted by 28 January, 2018.

UPDATE 17th. December 2017
Photos taken at the Allenwood Retired Staff 2017 Christmas Dinner have been added to the Gallery page.

UPDATE 8th. December 2017

The National Executive Committee (NEC) wishes all members a peaceful and enjoyable Christmas.
A summary of NEC recent activities and correspondence is below.

DB Fund Trustees
Letter sent to Chair Trustees, copied to all Trustees on 19th September, post the well attended Croke Park Trustee meeting.
Reminder re no response sent to Chair on 27th November.
Medical Provident Fund
There was an excellent attendance by RSA members at the AGM and we await the MPF Trustee deliberations, and response to the RSA resolution.
The MPF Trustees undertook to discuss all agenda items tabled by RSA and review them at the next Trustees meeting and will revert to RSA with the outcome of those discussions.
ESB/ RSA Forum
Letter confirming RSA issues discussed at Forum meeting 22nd November 2017 sent on 24th Nov. for the attention of ESB Senior Management.
Response, hopefully, at next Forum meeting 24th January 2018.
Minister Regina Doherty Dept. Employment Affairs and Social Protection
RSA met with former Minister Varadkar at end October 2016 and submitted – as requested – an 8 page document on 12th November.
It was May 2017 before we received a written response to it.
Since Summer, RSA have been seeking a meeting with current Minister Doherty through her Dept. to discuss that response and our request was repeated several times.
We wrote directly to the Minister in November 2017 and have received confirmation via her diary Secretary that she is willing to meet with RSA but has lots of prior commitments presently.

UPDATE 29th. September 2017

ONLY 7% OF SHARES SOLD
(OF THOSE OFFERED FOR VOLUNTARY SALE)
ESB ESOP
Internal Market Results Announcement
The Internal Market held on 22 September 2017 has now been completed.
PricewaterhouseCoopers (PwC), the Internal Market Administrator, has advised the
ESOP Trustee that the weighted average successful bid price was €1.17 per share (the
Market Price) and this is the price that will be paid to all successful sellers.
Please note that all forced sale shares were sold. Participants who offered shares for
voluntary sale at minimum prices equal to or below the market price have been
partially successful and sold approximately 7% of the shares offered.
PwC will be writing to all successful and partially successful sellers and all bidders.
Payments to successful sellers will be issued on 6 October 2017.
The ESOP Trustee will be writing to all participants in due course.
ESB ESOP Trustee
27 September 2017

UPDATE 25th. September 2017

Dublin Region and Head Office Members at the Think Ahead Presentation on 24th September, 2014

Tony Collins introduces Ann Marie Atkins of the Irish Hospice Foundation at the Think Ahead Presentation
Further information available on Think Ahead Website Link
and by email: thinkahead@hospice.ie or Phone 01 679 3188
With Thanks to Michael Hughes for the photos

UPDATE 22nd. September 2017
REMINDER
ESB Retired Staff Association
Head Office & Dublin Region Branches
Dear Member,
It’s time for yet another Branch Social event. Our Social Event last March was well supported and all those who attended had a very enjoyable afternoon. The details for the next event is as follows:
Event: Social Gathering
Venue: Wynn’s Hotel, Abbey Street
Date & Time: Monday 25th September 2017 at 2 pm

There will be a guest speaker from the Irish Hospice Foundation to speak about their range of services, with emphasis on thinking/planning ahead and making wills. There will be an opportunity for questions afterwards.

There will be a break for refreshments followed by some quality musical entertainment from Tommy Fox who entertained us at the last Social event. The most important aspect of these gatherings is to give members an opportunity to meet and catch up with former work colleagues in a comfortable environment.

Spouses/ partners are welcome and refreshments will be provided
We hope to see you there!

UPDATE 20th. September 2017
REMINDER
Members please note that this year’s AGM of the ESB Medical Provident Fund will take place on :
Thursday, 21st September 2017 at 5:30pm
Venue: Faithlegg House Hotel, Waterford
UPDATE 13th. September 2017

Part of the large attendance at the first ever meeting of ESB Pension Fund Trustees with Members of the DB Fund September 12th, 2017
With thanks to Michael Hughes for the photo.

On behalf of ESBRSA I wish to thank you all for turning out in such numbers for last evening’s well attended meeting with ESB DB Trustees at Croke Park.
There were many retired staff who travelled very long distances e.g. Cork, Galway, Lanesboro, Mayo, Waterford, and other branches and a special thanks to them for that effort and committment.
Apart from responding verbally to Trustees and venting our anger (rather than endless written queries from ESBRSA over the years with no answers), did we achieve
anything? Lets wait and see. Trustees were left in no doubt as to to the mood of the Scheme members.
I think all the speakers on the night did us proud – thanks to them – it must have been difficult to stand up and address the Trustees while ‘holding the cool’.

Michael MacNamara Hon Secretary ESBRSA

UPDATE 28th. August, 2017

2016 DB Scheme Annual Report Presentation 12th September, 2017 at 7:00pm

Venue Confirmed as Croke Park, Hogan Mezzanine, Level 4

LINK TO Croke Park – Getting There / Meetings and Events – Parking

You all will have received a notice of the above meeting along with a summary of the 2016 Annual Report for ESB Pension Scheme. This is a great opportunity for ALL Retired and VS staff to attend a presentation on your Pension Fund and to express your opinion on how the Trustees are managing your Pension Scheme

ESBRSA would urge all retired & VS members to attend this meeting where possible.

UPDATE 25th. August, 2017

A message and appeal to ESB Employees who are members of ESB Defined Benefit Pension Scheme, on behalf of Retired Members

As members of ESBRSA and members of ESB DB Pension Scheme, we have and will protest publicly the fact that ESB has reneged on its pension promise to us concerning pension increases and support for the Scheme more generally.
Our last pension increase was 1st Jan 2009. Since then employees have received 7.5% to date (August 2017) in increases while pensions have been frozen since Jan 2009 until Jan 2019.

WHAT CONCERNS US TODAY WILL BECOME YOUR CONCERN IN TIME BECAUSE YOU WILL RETIRE, AND WHEN YOU RETIRE YOUR PENSION’S PURCHASING POWER WILL DECLINE OVER YOUR LIFETIME. WHY IS THIS?

1. ESB has reneged on its pension promise to support the pension scheme, stating it will no longer support the scheme beyond employer contributions for current employees and a once-off fixed lump sum.

2. ESB has reneged on its pension promise to index pensions to the updated value of grade/position one retired from.

3. A solvency test is being used to refuse any increase.

4. If the solvency test is passed, an annual increase equal to CPI but capped to a max of 4% where CPI is greater than 4%, will be paid.
These factors have been employed to freeze pensions for 10 years and will be used to freeze pensions in the future or to limit future annual pension increases to 4% where inflation exceeds 4%. Any deficit will see benefits frozen or cut. ESB will refuse to contribute.

DECLINING PURCHASING POWER IS NOT JUST AN ISSUE FOR PENSIONERS TODAY. YOU WILL BE EQUALLY AFFECTED WHEN YOU RETIRE.

These factors, if not changed, should concern all employees who are members of this DB Scheme. Consider doing something about it while you still can. And do it soon, as your numbers are reducing with every passing year. (Only 30% of Scheme Members are employees).
As an employee member of the Scheme you have representation through your trade union. When you retire you will no longer have access to representation or representation rights, even were you to remain a member of your trade union, as things stand. We are trying to change this position in respect of all matters connected with the pension scheme.

WE ASK YOU TO PURSUE, THROUGH YOUR UNIONS, IMPROVEMENTS TO INDEXING OF PENSIONS, AND TO PRESSURE ESB TO REVERT TO ITS TRADITIONAL SUPPORT FOR OUR PENSION SCHEME. THE 2010 AGREEMENT PUSHED THE PENDULUM TOO FAR AGAINST ALL MEMBERS OF THE SCHEME. IT IS TIME TO PUSH BACK. ONLY EMPLOYEES HAVE THE LEVERAGE TO ACHIEVE IMPROVEMENTS.

Currently the Scheme is fully funded in actuarial terms and can meet all its liabilities on an ongoing basis. Any suggestion that payment of pensions is in any way dependent on current employee contributions is wrong. Pensions are safe and will be paid at the point of retirement as long as the Scheme remains a going concern and is fully funded in actuarial terms.
Pension purchasing power post-retirement is not safe and can be destroyed over your lifetime by a pension freeze or by inflation greater than 4%. A pension freeze will arise where the Minimum Funding Standard (MFS) is not met. The 2010 Pension Agreement has enabled ESB to solve a MFS deficit by freezing / cutting benefits for those already retired and for those yet to retire when they retire.
It is vital that ESB is persuaded to move from its current stated position regarding support for the Scheme. Discuss in your workplace and lobby your unions and management. ESB must be held to its pension promises if the values of pensions in retirement are not to be eroded.
The EU inflation target is 2% per year. Had this applied since Jan 2009, pensioners would have suffered a loss of more than 20% in the purchasing power of their pensions by Jan 2019; this is the scale of risk dumped onto members of the scheme by ESB’s refusal to support the scheme in keeping with its pension promises.

DO YOU WANT THIS PROSPECT TO FORM PART OF YOUR FUTURE?

Act Now – to change the unfair 2010 Pension Agreement

Thank you for taking the time to read this.
From ESB Retired Staff Association on behalf of retired members of DB Scheme.

__________________________________________________________________

UPDATE 20th. August, 2017

The notice below re ESOT has been published on the ESB ESOP website

ESB ESOP Trustee Limited
The Trustee of the ESB ESOT intends to operate an Internal Market
on 22 September 2017 (the Market Day). Further information and
confirmation of the Market Day will issue to participants.
ESB ESOP Trustee
18 August 2017

______________________________________________________________________

ESB Pension Scheme Trustees Meeting (Dublin City Centre Venue) on 12th September 2017 at 7 pm

Dear Member,

You all will have received a notice of the above meeting along with a summary of the 2016 Annual Report for ESB Pension Scheme. This is a great opportunity for all Retired and VS staff to attend a presentation on your Pension Fund and to express your opinion on how the Trustees are managing your Pension Scheme

ESBRSA would urge all retired & VS members to attend this meeting where possible.

We would also urge members to send an email to pensions@esb.ie to express your interest in attending the meeting.

OR to complete and return the form provided by the 28th. July.

UPDATE 20th.July, 2017

ESB RETIRED STAFF ASSOCIATION
ESTABLISHED 1974
NATIONAL EXECUTIVE COMMITTEE

T. COLLINS     M. MACNAMARA     A. McCAFFERTY     J.NUGENT
CHAIR              SECRETARY              TREASURER           VICE-CHAIR

29th June 2017

Re: Information to ESB/ RSA Forum Facilitator

Dear Elaine,

The following resolutions were adopted at the AGM of the ESB Retired Staff Association today 29th June 2017:

“This Annual General Meeting of the National Executive of the ESBRSA calls on the Trustees of the Medical Provident Fund to approve the drawdown of MPF Reserves to offset any future shortfalls of income over expenditure and to refrain from imposing future subscription increases.
This course of action to be reviewed after a period of 3 years”.

“This AGM calls on the National Executive of the ESBRSA to organise protests in pursuit of a long overdue pension increase including a retrospective increase as assumed by the Scheme’s Actuary in 2014. The form of these protests to be decided by the NEC”

I am asking you to inform ESB Joyce and Jason, also James O’Loughlin as Secretary to MPF and as Secretary to Trustees.

Yours sincerely,

Michael MacNamara,
Hon Secretary National Executive,
ESB Retired Staff Association.

1

UPDATE 2nd. July, 2017

A Review of the ESB Defined Benefit Pension Scheme – The Path to Pension Increases produced by Trident Consulting for ESBRSA is now available. Members of ESBRSA can get a copy of the review on application to their Branch Secretary.

Pensioners, who are members of the Pension Scheme can request a copy of the 2014 Actuarial Valuation of the Scheme, which was carried out by Mercers, the Scheme Actuaries, by sending an email to pensions@esb.ie

UPDATE 23rd June, 2017

Departed Friends Notice from EM June/July 2017 added to Downloads (Archived Bereavement Notices)

UPDATE 8th June, 2017

PLEASE NOTE:
Dublin Region & Stations branch AGM will take place in Wynns Hotel,
Lower Abbey Street, Dublin 1 on Thursday 15th June 2017 at 14:00

UPDATE 27th May, 2017

A new Snippet was added to the SNIPPETS page “Pensions and Public Policy”

UPDATE 18th
May, 2017

REMINDER
HO BRANCH AGM TUE 23RD MAY 2:15PM
WYNN’S HOTEL
LR ABBEY ST
DUBLIN 1

UPDATE 5th
May, 2017

Two new photos added to GALLERY

UPDATE 4th
May, 2017

Two letters covering correspondence with the Medical Provident Fund (MPF) regarding Reserves has been added to the website
To access this go to REPORTS : SUBMISSIONS : MEDICAL PROVIDENT FUND

UPDATE 28th April, 2017

A new Snippet was added to the SNIPPETS page “state can seize citizens’ assets when it sees fit”

UPDATE 18th April, 2017

A new Snippet was added to the SNIPPETS page

UPDATE 9th
April, 2017

Pensions Regulator response 27th March 2017 to ESBRSA letter dated 14th March 2017

Response from Min. Finance re USC 28th March 2017 to ESBRSA letter dated 22nd November 2016

UPDATE 24th
March, 2017

A new item covering correspondence with the Medical Provident Fund (MPF) regarding Reserves and Cover Abroad has been added to the website
To access this go to REPORTS : SUBMISSIONS : MEDICAL PROVIDENT FUND

UPDATE 23rd March, 2017

A new Snippet was added to the SNIPPET page

UPDATE 16th March, 2017

ESBRSA letter to the PENSIONS REGULATOR sent on 14th March, 2017

To: Mr. Brendan Kennedy,
Pensions Regulator,
The Pensions Authority,
Verschoyle House,
28/30 Lower Mount Street,
Dublin 2.

Ebilou,
Loughlinstown,
Celbridge,
Co. Kildare
14th March 2017

Dear Sir,

I’m writing to you on behalf of members of the ESB Retired Staff Association. It has come to my attention recently from listening to national radio that there is still a lot of anger and discontent among pensioners regarding the Government Pension Levy which some would describe as the greatest “smash and grab raid” by the Government on private pensions. This same anger and resentment exists among members of our Association. The levy raided private pensions to the tune of €2.5 billion in the period 2011 to 2015, under the provisions of the 2011 Finance Act.
The recent Government initiative to restore the public service levy over a number of years with no attempt to similarly make restoration to private pension funds has probably given rise to this continued anger and resentment.

Recent comments on national radio have questioned the legality/constitutionality of the original Government legislation enacted in 2011 that gave rise to the levy and granted them the authority in a legal sense to levy private pension funds. The constitutionality has been questioned in that a pension is the property of an individual and that the levy is an infringement of that individual’s property rights.

As Pensions Regulator, I would ask you the same question as many pensioners have asked. Are you satisfied, as Pensions Regulator, that the legislation giving rise to the Government Pensions Levy is legally sound and is not unconstitutional or an infringement of an individual’s property rights?

I look forward to hearing from you at your earliest convenience.

Yours sincerely,

Michael MacNamara Hon Secretary
National Executive ESB Retired Staff Association

UPDATE 15th March, 2017

The two ESBRSA letters below await a response from Minister for Finance, Michael Noonan.

To : Michael Noonan TD,
Minister for Finance,
Department of Finance,
Upper Merrion Street,
Dublin 2

Ebilou,
Loughlinstown,
Celbridge,
Co. Kildare

22nd November 2016

Dear Minister Noonan,

I’m writing to you on behalf of ESB Retired Staff Association (ESBRSA) with regard to USC as applied to pensions. There has been much talk about USC this year and efforts have been made to relieve the burden of USC on taxpayers.

There is a glaring anomaly that exists between two categories of ESB pensioner, namely those who joined ESB pre-1995 paying class D PRSI with no entitlement to a State pension and those who joined post 1995 paying class A PRSI with entitlement to a State pension.
That same anomaly exists between pensioners in receipt of a State pension and those in receipt of private pensions.
State pensions are exempt from USC, so post 1995 pensioners in receipt of an integrated pension comprised of the State pension and the balance being a private pension do not pay USC on the State pension portion. Yet those in receipt of private pensions pay USC on all of their income. This anomaly exists between public service employees who were employed pre-1995 and those employed post 1995. It also exists with any pensioner whose income is comprised of a State and private pension.

In the interest of equal treatment this issue needs to be addressed. It is unfair and unjust to have two categories of pensioner treated differently with regard to the application of USC. In order to rectify the situation, I suggest that from January 2017 where an individual is in receipt of a private pension only, that the equivalent amount of the State pension, (€12,000 p.a. approx.) be exempt from USC and that USC rates are then applied on the balance of their income i.e. 0.5%. on the first €12,012 (after the exemption) and 2.5% on the next €6,760 and so on etc.
I trust that this matter will be given serious consideration and that the Finance Act will be amended to provide for changes outlined above.

Yours sincerely,

Michael MacNamara,
Hon Secretary National Executive, ESB Retired Staff Association

————————————————————-

To: Michael Noonan TD, Minister for Finance
21st November 2016

Re: “NO” to Pensions Levy – Injustice Continues
Dear Minister,
On behalf of ESB Retired Staff Association (ESBRSA) I’m writing to you yet again regarding the Government Pensions Levy. Despite the popular belief that the Pensions Levy is gone, abolished, and that the Government’s great “smash and grab” raid of €2.3 billion on private pension funds and individual’s pension savings will be forgotten and fade into the mists of time is far from the truth. The majority of pensioners receive a weekly/monthly reminder that the pension levy is very much alive in the form of a deduction on their payslip in respect of the levy.
ESBRSA still receive queries from members regarding the pension levy as to why they’re still paying the levy and I quote “ didn’t the Minister abolish the levy in the budget”. They are now coming to the realisation that they will pay the levy for the rest of their natural lives and as a married person if they predecease their spouse, the spouse is then burdened with this unfair Levy for their lifetime. As far as pensioners are concerned this Government’s legacy will be the Pensions Levy and other Budgetary measures that targeted the elderly, such as the abolition of the Telephone Allowance and the Bereavement Grant. I have no doubt that the “Grey Vote” comprising 33% of the electorate were somewhat responsible for the outgoing Government’s extremely poor performance in the last General Election.
The assets of Pensions Schemes have been permanently reduced as a direct consequence of the Levy resulting in members’ pensions being significantly reduced by Trustees to recover the cost of the Levy. Many struggling Pension Schemes have been pushed further into deficit as a direct result of the levy and many

UPDATE 2nd. July 2016

Previous (June 2013) Constitution of ESB Retired Staff Association

June 2013

1. Name, Status and Objectives of RSA

2. Membership, Subscriptions and Management

3. Branch Structure and Committees

4. National Executive Committee

5. Roles of Officers

6. General Purposes Committee

7. Audit

8. Amendments and Alterations

9. Removal from Office.

1. Name, Status and Objectives of RSA

  1. The name of this organisation shall be known as the ESB Retired Staff Association, hereinafter referred to as “The Association” and commonly known as R.S.A.
  2. The ‘Place of Meeting’ may be any or such place as decided by the Executive Committee or Branch Committees as appropriate.
  3. The aim of the Association is to represent its members, promote their welfare and provide opportunities for social interaction.
  4. The Association will endeavour to represent the best interests of all its members in matters relating to the ESB Defined Benefit Pension Scheme and in its dealings with the other stakeholders in the Scheme.
  5. The Association will at all times act to protect the pension income and all other general benefits accruing to its members. (This will include items such as MPF, Credit Union, ESOP and Household Benefits Package).
  6. The Association will monitor all matters relating to pensions and all other benefits, within ESB as well as any external developments or proposals, that may affect the pensions and expectations of retired staff
  7. The Association will affiliate and cooperate with the appropriate national organisations in order to further its aims and objectives.
  8. The Association will take any steps necessary to publish and spread its aims and philosophy by such means and in such manner as it shall deem fit, including print and other forms of electronic media.

2. Membership, Subscriptions and Management.

  1. The membership of the Association shall be open to all ESB retired and VS staff and surviving spouses
  2. The business and affairs of the Association shall be managed by local Branch Committees, a National Executive Committee (NEC) and a subsidiary General Purpose Committee (GPC).
  3. The Association shall be funded by members’ subscriptions and when an eligible person applies for membership of the Association, he/she shall undertake to pay the appropriate subscription decided by his/her local Branch. Such application must be made on the official application form authorising deduction at source and deductions shall be made weekly, fortnightly or monthly as appropriate
  4. The National Executive of the Association (NEC) shall receive an agreed amount annually based on Branch numbers from each Branch committee to defray cost of meetings, postage, stationery etc. All monies received shall be lodged in a bank or credit union account in the name of the Association.
  5. By joining the Association, members are giving it the authority to represent them in all matters related to their pension and all other benefits.

3. Branch Structure and Committees

  1. The number of Branches shall be based on geographic location subject to NEC approval. Members resident in those locations should form a branch as designated by the NEC and elect a committee at an Annual General Meeting (AGM). Conflict over boundaries will be referred to NEC for adjudication . Members who change residence, may, if they wish, retain membership of their original branch.
  2. The committee shall at least consist of a Chairman, Hon. Secretary and Hon. Treasurer. The Branch committee shall also consist of a number of members to be decided locally and shall have the power to co-opt and to fill vacancies, as necessary, during the year. Branches may appoint additional officers to meet their own requirements.
  3. Notice of the AGM shall be given at least 14 clear days prior thereto, by post, email or other satisfactory means.
  4. Resolutions for the AGM shall be notified in writing to the Hon. Secretary at least 7 days prior to the AGM.
  5. Resolutions not notified to the Hon. Secretary in advance of the AGM may only be put to the meeting on the day of the AGM provided they are proposed and seconded and passed by a majority of the members in attendance at the AGM.
  6. The Hon. Secretary of the local Branch committee shall notify to the Hon. Secretary of the NEC all the names and offices of its elected officers.
  7. The local Branch committee shall appoint a delegate or delegates to the NEC for the coming year, depending on the number designated by the NEC . Substitute delegate or delegates should also be appointed to NEC for the coming year. In the event of the delegate(s) or nominated substitute(s) being unable to attend a meeting of the NEC, the Branch committee shall nominate substitute(s) to attend that meeting of the NEC. The name of the substitute(s) shall be notified to the Hon. Secretary of the NEC in advance of the meeting. Branches should consider rotation of delegates in order to get more members involved at NEC level.
  8. Ordinary meetings of the Branch committees shall be held on such dates as may be found convenient for the transaction of business upon at least 3 days notice being given by the Chairman. The Branch Committee should endeavour to hold as many meetings as possible to suit local needs. A quorum shall consist of half the membership. The Chairman shall preside over the meeting and shall have a casting vote in the event of a tie.
  9. A request may be made to the Chairman by no less than a quorum of the committee for a special meeting of the committee, stating the nature of the business to be transacted. If the Chairman neglects or refuses to call such a meeting within 7 days, the meeting may be convened by notice given by a quorum of the committee.
  10. Extraordinary General Meetings may be called at any time by direction of the Branch committee or at the request of at least 10% of the Branch membership. At any meeting of members, if a majority present wish any motion under discussion to be put to vote by ballot, this mode of voting shall be adopted.

4. National Executive Committee

  1. The National Executive Committee, hereinafter referred to as the NEC, shall consist of a delegate or delegates nominated by Local Branch Committees at their AGM. A Branch shall appoint no more than two of its members to the NEC. An exception to this will be Head Office and Dublin Region Branches who may each appoint up to five delegates.
  2. The NEC shall hold its AGM in the month of June each year and shall elect officers i.e. Chairman, Hon. Secretary, Vice Chairman/Asst Secretary and a Treasurer. Nominations for these four officer positions shall be proposed by branches in writing to the Hon. Secretary at least 14 days before the AGM. If there is more than one candidate for any position an election will take place at the AGM. The candidate with the highest number of votes will be appointed to the position. The NEC may appoint any other officers considered necessary.
  3. The NEC shall remain in office for a period of one year. Should a delegate vacancy or vacancies arise during the year, the Branch Committee which appointed the vacating delegate may appoint a replacement for the remainder of the year.
  4. Should any of the NEC officer positions become vacant during the year, the position will be filled by the NEC at the next meeting. Delegates should be made aware of the vacancy prior to the meeting so that due consideration can be given to the appointment of a replacement officer. If an election is necessary, the candidate with the highest number of votes will be appointed. Delegates will have the option of co-opting an existing GPC member or other delegate to fill the position. Nominees for any NEC Officer or GPC position who are not present at an NEC meeting at which an Officer or GPC position will be appointed, must indicate in writing to the Hon. Secretary that they accept the nomination.
  5. Notice of the AGM shall be given to Branch Secretaries and Delegates at least 21 clear days prior thereto, by post email or other satisfactory means. The agenda for the AGM and minutes of the previous AGM shall be circulated along with the notice of the meeting
  6. Resolutions for the AGM shall be notified in writing to the Hon. Secretary at least 14 days prior to the AGM. The proposed resolutions shall have been circulated to all delegates at least 7 days before the Annual General Meeting. Resolutions not submitted in accordance with the above, cannot be put to the meeting on the day of the AGM.
  7. Ordinary meetings of the NEC shall be held every quarter on such dates as may be found convenient for the transaction of business upon at least 7 days notice being given by the Hon. Secretary. A quorum shall consist of half the membership of the committee. The minutes of the previous meeting shall be circulated to all delegates at least 7 days prior to the meeting. The Chairman shall preside over the meeting and shall have a casting vote in the event of a tie.
  8. A request may be made to the Chairman by no less than a quorum of the NEC for a special meeting of the committee, stating the nature of the business to be transacted. If the Chairman neglects or refuse to call such a meeting within 7 days, the meeting may be convened by notice given by a quorum of the NEC.
  9. Extraordinary General Meetings of the NEC may be called at any time by direction of the entire NEC, or a quorum of the NEC or at the request of at least 10% of the General membership of the Branches. At any meeting of members, if a majority present wish any motion under discussion to be put to vote by ballot, this mode of voting shall be adopted.
  10. The NEC shall review and fix the contribution to be paid each year by each Branch based on number of members contributing through deduction at source. Branch subscriptions for each calendar year should be paid by the end of the first quarter (31st March ) of that calendar year.
  11. A record of all NEC members names and addresses by Branch, and updated annually, shall be held centrally by NEC/ GPC. The use of these details shall be restricted to RSA business.

5. Roles of NEC Officers

Secretary

  • The Secretary is the chief administrative officer with functions as follows:
  • Prepare minutes and notices for all GPC and NEC meetings.
  • Notice and agenda for meetings together with minutes of previous meeting shall be circulated at least 7 days prior to each meeting.
  • Carrying out the instructions of the Chairman and the Annual General Meeting.
  • Deal with all correspondence with approval of GPC/NEC
  • Maintain accurate and up to date membership records
  • Make the necessary preparations for elections and record the voting process.
  • Report to the Annual General Meeting.
  • In the absence of the Secretary the Assistant Secretary shall carry out these functions. If the Secretary or Asst. Secretary is not in attendance then a member of the committee shall be appointed to act as Secretary for that meeting

Chairman

  • The Chairman shall preside over all meetings of the GPC and NEC.
  • The Chairman shall be responsible for reviewing and signing minutes, signing cheques, and ensuring all members of the NEC abide by the provisions of the constitution.
  • Report to the Annual General Meeting.
  • The Vice Chairman shall have all the powers of the Chairman in his absence.

Treasurer

  • The Treasurer is the custodian of the Association’s funds.
  • Control the finances of the Association and shall deposit all funds in a recognised Bank or St. Patrick’s Credit Union (ESB Staff) Ltd. in the name of the Association.
  • Pay all bills accruing within a reasonable time as instructed by the GPC/NEC.
  • Sign all cheques which shall be countersigned by the Chairman, Hon. Secretary or Vice Chairman.
  • Keep an itemized account of receipts and disbursements and shall make a report at every committee meeting on the status of the bank account/Credit Union accounts. He/she is responsible for preparing the Annual Accounts in a timely fashion and ensuring that they are presented to the (approved) Auditors for the annual
  • Audit. He/she is responsible for submitting all papers, accounts and documents to the auditors for the yearly audit.
  • He/she is responsible for ensuring that the Audited Annual Accounts are available for circulation in advance of the NEC AGM.
  • The Treasurer shall report to the Annual General Meeting

6. General Purposes Committee

  • The AGM of the NEC shall also elect a General Purposes Committee (GPC)
  • The Chairman, Hon. Secretary, Vice Chairman/Asst Secretary, and the Treasurer shall automatically be deemed elected to the GPC at the AGM. A maximum of 5 committee members shall also be elected to the GPC. If more than 5 are nominated, a vote shall be held at the AGM to elect the 5 GPC members. Candidates with the highest number of votes will be appointed. Should a GPC position become vacant during the year, the position will be offered to the candidate unsuccessful at the AGM with the next highest number of votes.
  • The GPC shall meet usually every month, but may meet more often by arrangement to deal with urgent matters at short notice if the situation demands it.
  • The GPC shall be subject to decisions made by the NEC but in special circumstances, where speed of action is required and the interests of the members are at risk, the GPC may act on it’s own initiative and advise the NEC of any such action taken.
  • The NEC or the GPC, on instructions of the NEC, shall engage in negotiations or discussions with the appropriate authorities to protect the interests of retired and VS members at all times. They shall keep the Branches informed of the progress of any negotiations or discussions at all times.
  • The GPC shall be empowered to obtain legal, financial or actuarial advice, particularly with regard to pension matters in order to protect members interests. They shall report to NEC at all times on progress in any such dealings with professionals and any expenditure for advice shall be approved by NEC.
  • The GPC may invite observers to attend its meetings. Such observers will be chosen by the GPC from existing NEC delegates and may participate fully at all GPC meetings with the exception that they will not have voting rights. Observers may not exceed more than two in number at any time.

7. Audit

There shall be an annual Audit of Branch and NEC Accounts. Such Audit shall take place at a time so that a report can be made to the Annual General Meeting. The Audit shall be done either by a qualified Accountant, or someone with accounting experience and qualifications that satisfies the Branch Committee or NEC as appropriate. For the purposes of such audit the financial year should run from January 1st – December 31st.

8. Amendments and Alteration

  1. No articles of the constitution of this Association may be amended or altered, or new articles inserted except on a vote of the voting members present at an AGM of the NEC and such vote shall require a two thirds majority.
  2. The proposed amendments shall have been received in writing by the Secretary at least 21 days prior to the Annual General Meeting or Special General Meeting.
  3. The proposed amendments shall have been circulated to members at least 7 days before the Annual General Meeting or such Special General Meeting.
  4. Any changes to the constitution will become effective from the date
    immediately following the AGM at which they were passed.

9. Removal from Office.

Officers of the NEC and delegates who may have been elected or co-opted to the NEC or GPC may be removed from office by a two thirds majority vote of delegates present at an NEC meeting.

UPDATE 30th. June, 2016


The information below is copied from ESB Staff Services website (Published 28th June)
ESB Staff Services is available via the LINKS page.

“RESULTS – Election for Member Trustee – ESB Defined Benefit Pension Fund
The count for the election of two member Trustees of the ESB DB Pension Fund was held today and the following candidates were elected.

Employee Member: Jeremiah Murphy

Retired Member (Pensioner/VS): David Naughton

Congratulations to the successful candidates who will be commencing their roles on 1st July 2016.

We would like to thank all candidates for their efforts and interest in becoming a member Trustee of the ESB DB Pension Fund.”

UPDATE 27th. June, 2016

List of 32nd Dail TDs email Addresses

UPDATE 12th. June, 2016

NEC letter re ESB Pensions Trustee Election 2016

To: All Branch Delegates and Secretaries

ESBRSA have had many calls and emails recently from members requesting information/guidance regarding the upcoming Trustee election.

You will have received election material and ballot papers for the upcoming election of member Trustees, both employee and retired, to the board of Trustees for the ESB Pension Scheme.

The latest date for the return of ballot papers is Monday 27th June 2016 and our next NEC Meeting is Thursday 30th June 2016, so we will not be in a position to discuss the Trustee elections before the ballot deadline.

You are also aware of the selection process that member nominees for the Trustee positions must undergo prior to their names appearing on the ballot paper. ESBRSA are totally opposed to this process and have made their views known in the strongest possible way to both ESB and Pension Scheme Management and have demanded that this process be abolished. This process applies to member nominees only.

While the NEC is not in a position to endorse/recommend any particular candidate/s it would be worth highlighting a number of issues with regard to some candidates as follows:

Davy Naughton, whose name appears on the ballot paper for retired member candidates, was one of the main architects and signatories of the, now infamous, 2010 Pensions Agreement between ESB Management and ESB GOU. This Agreement between these two parties excluded any input or involvement from ESBRSA and was highly detrimental to pensioners as a group, abandoning the long observed custom and practice of linking pensions to staff salaries and imposing an indefinite pay freeze on pensioners. ESBRSA do not recognise this Agreement and are currently working hard to overturn it’s measures imposed on pensioners.

The current incumbent on the Board of Trustees, and elected at the last Trustee election as a member Trustee is Jim Dullaghan. While he has had no official contact with ESBRSA we are aware that he has been acting in the interests of retired and all Pension Scheme members in his official capacity as an elected Trustee.

ESBRSA cannot comment on the other candidates on the ballot papers as we have had no contact, official or otherwise, with these candidates.

I hope this information will be helpful for your members when making decisions in the upcoming election. Please ensure that this notice gets the widest possible circulation among your membership.

Regards,

Michael MacNamara,
National Executive Secretary

UPDATE 11th. June, 2016

Derek Russell’s Farewell – Venue – Oil Can Harrys
After a decade of committed and distinguished service across Independent Generation, ESBIE, Electric Ireland and ITS, Derek Russell is moving on to new pastures and challenges.

To mark his departure, Derek would like to invite his colleagues and friends to the function room in Oil Can Harrys, 32 Mount Street Lower, Dublin 2, on Thursday the 16th June (from 5pm).

Pat McDonnell Retirement
After nearly 50 years service Pat McDonnell has decided to hang up his clilmbers and concentrate on his other handicap – golf. All of us who have had the pleasure of working with Pat will greatly miss his experience, knowledge, enthusiasm and humour.

A function to mark Pat’s retirement will take place on Friday 24th June in Bobby Byrnes, Limerick from 5pm on. Pat hopes that as many as possible of his colleagues and friends will join him for the occasion.

Joe O’Neill – Telecom Services
After 46+ years service Joe O’Neill has decided to retire from Telecom Services, ESB, on Friday the 17th June.

All of us who have had the pleasure to work with Joe, are well aware of his contribution to ESB over these years. His experience, knowledge and specifically his enthusiasm will be greatly missed.

An event will be held on the 17th June to mark this occasion, which will kick off in the Head Office Restaurant (conference Room end) at 17.00 hrs and then move on to The Waterloo Bar on Baggott Street.

All Joe’s friends and colleagues are invited to attend.

If you would like to be associated with Joe’s presentation please contact any of the following:

Gerry Harris (Ext 26841) or Diarmuid O’Neill (Ext 27990) room B111

UPDATE 3rd. June, 2016

ESB RETIRED STAFF ASSOCIATION
ANNUAL GENERAL MEETING DUBLIN REGION BRANCH

The Annual General Meeting of ESBRSA Dublin Region Branch planned for 9th June has been postponed

and will now take place at Wynn’s Hotel, Lower Abbey Street on Monday 27th June at 2 o’clock.

Tea/coffee/biscuits will be provided at end of the meeting.

UPDATE 27th. May, 2016

Thanks to Tony Evans who has supplied the last missing name for the photo of the 1st Year Apprentices, Dec. 1959 at College of Technology, Kevin Street in the Gallery page. All 45 in the photo are now named.

UPDATE 19th. May, 2016

GALWAY BRANCH PAGE GOES LIVE
The Galway Branch Page went live on the ESB RSA website today 19th May 2016.

UPDATE 16th. May, 2016

A Re-engagement meeting will take place in ESBI, Dublin on 19th May.
followed by two sessions between RSA officers and ESB Management
on 26th May and 22nd June 2016.

Sessions Theme is ‘Pensions Expert Presentation’ and ‘RSA Representation Presentation’.

All three will be attended by ESB Personnel, RSA Officers and an Independent Facilitator

NEWS FROM ST. PATRICK’S CREDIT UNION
New – Foreign Currency Home Delivery Service
You can now order your foreign currency from the comfort of your home, workplace or on your mobile phone and have the money delivered straight to your door!
For further details and to place your Commission FREE order see www.stpatrickscu.ie

UPDATE 12th. May, 2016

Peter Merriman’s Retirement function (ESB Networks, Leopardstown Road) occurs next week on Friday 20th May, 2016

Over the past 40+ years Peter worked as a cable jointer and cable fault finder in Dublin South and Dublin Region ESB Networks.
Peter was based in Leopardstown Road and at the ESBN Boghall Road, Bray, Co. Wicklow depot.
Venue: The Graduate, Rochestown Avenue, Glenageary, Co. Dublin
Time: From 20:00 hours

UPDATE 11th. May, 2016


REMINDER

ESB RETIRED STAFF ASSOCIATION
ANNUAL GENERAL MEETING HEAD OFFICE BRANCH

The Annual General Meeting OF ESB RSA Head Office Branch will take place at
Wynn’s Hotel, Lower Abbey Street, Tuesday 17th May, 2:15 PM.
Tea/coffee/biscuits will be provided at end of meeting.

Member’s Husbands, Wives, Partners are welcome to attend the AGM

UPDATE 6th. May, 2016

Sean Murphy’s Retirement Party on Friday 27th May
After over 36 years service, Sean Murphy HV Stations Cork will be retiring on Friday 6th May.

Over the years Sean has worked in the Pole Field Blackpool, Wilton Stores and HV Stations Cork.

Sean’s skills are legendary ..and has gotten many a colleague out of a tight corner over the years.

All of us who have had the pleasure of working with Sean will greatly miss his experience, knowledge, enthusiasm and humour.

To mark his departure Sean would like to invite you to his retirement party:

UPDATE 5th. May, 2016

ESB RETIRED STAFF ASSOCIATION
ANNUAL GENERAL MEETING DUBLIN REGION BRANCH

The Annual General Meeting of ESBRSA Dublin Region Branch will take place at
Wynn’s Hotel, Lower Abbey Street on Thursday 9th June at 2 o’clock.
Tea/coffee/biscuits will be provided at end of the meeting.

UPDATE 4th. May, 2016

In recent correspondence with ESB RSA the ESB Medical Provident Fund (MPF) drew attention to the conditions applicable to members travelling abroad (See below)

(Apply for EHIC (European Health Insurance Card) card here)

.MPF9

____________________________________________________________________________________

UPDATE 29th. April, 2016

Tony O’Connor Retires
In his 40th year of dedicated service Tony O’Connor is retiring. Tony is marking his retirement with a function in the Tolka House, Glasnevin Hill Dublin 9 on Friday the 20th of May, starting at 7 p.m.
All his friends and colleagues are invited to join him in the celebrations If you would like to contribute to Tony’s presentation, please contact one of the following:
Maria Ferris 087 2075162, Joe Boyne 087 2383000,
Annette Meade 087 9081582

UPDATE 26th. April, 2016

ESB RETIRED STAFF ASSOCIATION
ANNUAL GENERAL MEETING HEAD OFFICE BRANCH

The Annual General Meeting OF ESB RSA Head Office Branch will take place at
Wynn’s Hotel, Lower Abbey Street, Tuesday 17th May, 2:15 PM.
Tea/coffee/biscuits will be provided at end of meeting.

The notice and agenda should be arriving at members homes late this week or early next week.

UPDATE 21st. April, 2016

Pat Germaine is Retiring
After a long and distinguished career spanning more than 47 years, Pat Germaine has decided to take his leave from ESB. From his initial appointment to the Chief Accountants office in 1968 through to his days in the Rathmines Meter Workshop and more recently in Customer Supply and ultimately Electric Ireland, where he has resided as Master of Procurement,
Pat has made an enormous contribution to ESB and brightened the lives of all he encountered along the way.A function to mark Pats retirement will take place in The Waterloo, Baggot Street from 5pm on Friday May 6th. Pat hopes that as many as possible of his colleagues and friends will join him for the occasion.If you would like to be associated with the presentation please contact any of the following:
Anne-Marie Casey, Electric Ireland, extension 34523
Aine McGarry, Electric Ireland, extension 34350
Nuala Cummins, ESB Head Office (Trading), extension 26340

Do you have a story about Pat or any photos we could use as part of his presentation on the night? Please email to Anne-Marie.Casey@electricireland.ie or send to Anne-Marie Casey, Finance, Electric Ireland, Building 2 Swift Square, Northwood, Santry, Dublin 9 on or before 29 April 2016. Please mark your photographs with a name and return address.

UPDATE 31st. March 2016

RETIRMEMENT OF JOHN J MCARDLE NT CARRICKMACROSS CO MONAGHAN

AFTER 36 YEARS SERVICE JOHN HAS DECIDED TO RETIRE.
A FUNCTION TO MARK JOHN’S RETIREMENT WILL TAKE PLACE IN THE SHIRLEY ARMS CARRICKMACROSS CO MONAGHAN ON SATURDAY 30TH APRIL AT 7.30PM SHARP.
ANYONE WHO WISHES TO BE ASSOCIATED WITH OR ATTEND JOHN’S FUNCTION PLEASE RING JIMMY GAVAGHAN ON 087-2999853 NO LATER THAN FRIDAY 22ND APRIL

UPDATE 23rd. March 2016

John Higgins retires

After a long and varied career spanning more than 40 years in ESB and ESBI, John Higgins has decided to hang up his sag template and scale rule and will retire on Thursday April 14th.
A presentation to mark John’s retirement will take place in Stephens Court at 4.30 PM on that day, and John hopes that as many as possible of his colleagues and friends will join him for the celebrations.
Refreshments will follow afterwards in O’Donoghue’s on Merrion Row.
If you would like to be associated with the presentation please contact any of the following:
Terry McGeough , extension 38405
Gerry Lawler , extension 38377
Des O’ Regan , ESBI East Gate office , extension 38817.

UPDATE 14th. March 2016

Can you help in naming some of the unknown golfers from 1992 in the photo added today to the Gallery?

UPDATE 9th. March 2016

Reminder: Paul Cahill
After serving just short of 43 years of dedicated and conscientious service in ESB, Paul Cahill is retiring to enjoy more time with his family and to explore the highways and byways of Ireland and Europe in his camper van. Paul has worked in various roles and sections during his 43 years ranging from Appliance Repair to HV Stations and Supervisor roles ranging from MV Construction, SDCC, Competence & Assurance. Pauls final day at work will be Wednesday 16th March. A function to mark his retirement will be held in the Long Valley, Winthrop Street, Cork on Friday 22nd April, starting at 7.30 pm and his friends and colleagues are cordially invited to meet up, have a drink and share some memories no doubt.
If you would like to contribute to Pauls presentation , please contact one of the following: Martin Conroy – Wilton – Mobile 087-6502919 Catherine Murphy – Wilton -Ext 54343
Geraldine Dunphy -Wilton – Mobile 0876735540 Paddy Hamill – Finglas – Mobile 0872202041
_____________________________________________________________________________

UPDATE 2nd. March 2016

Andy Hanson retirement
With over 36 years service, Andy Hanson is retiringenbsp; at the end of February.
Over the years he worked in Distribution Dept., Dublin City District, Kilkenny, Finglas, East Transmission and Asset Management.
All of us that have had the pleasure to work with Andy, are well aware of his immense contribution to ESB over these years. His experience, knowledge and specifically his enthusiasm will be greatly missed.To mark the occasion Andy would like to invite his friends and colleagues to join him for a drink in the Claytonenbsp;Hotel (formerly Bewleys) in Leopardstown at 5PM on Friday the 4th March.
If you would like to contribute to Andys enbsp;presentation please contact:Fiona ODonnell ext: 43340 or Kara Keenaghan ext: 55385 29-Feb-2016

UPDATE 22nd. February 2016

Launching this week – the Great ElectricAid Election predictor! Get your anorak on, and have some fun with the Election. Predict the seats outcome, party-by-party. You could scoop the prize pool – and it could be massive. 50% of the entire entry pool will go to the winner(s); the rest will go for fantastic projects in Ireland and the Developing World.

UPDATE 9th. February 2016

HOW PENSIONERS HAVE BEEN HIT BY AUSTERITY !

See also the ELECTION SPECIAL ISSUE Newsletter in the Cork Branch Page !

UPDATE 20th. January 2016

See note in Branch Pages re EAP contacts

UPDATE 17th. January 2016

REMINDER

The first combined Dublin Region and HO Branches afternoon social will take place in Wynn’s Hotel, Abbey St., Dublin 1 on Tuesday January 19th from 2pm to 5pm.
All members and partners are welcome. Please confirm your attendance by sending an email to info@esbrsa.ie

UPDATE 15th. January 2016

To: Mr. Tony Donnelly,
Chairman ESB Pension Fund Trustees,
27 Lower Fitzwilliam Street,
Dublin 2,

From: Michael MacNamara
Hon Secretary ESBRSA National Executive
Ebilou, Loughlinstown,
Celbridge, Co. Kildare

8th January 2016

Dear Tony,

The Officers of the National Executive of ESBRSA met with James O’Loughlin and Paul Duignan on 1st December 2015 and raised the following issues/questions with regard to the ESB Defined Benefit Pension Scheme.

Section 7 (1) (b) of Electricity Supply Board (Superannuation) Act, 1942 as amended by Section 20 sub-section 4 of the Energy (Miscellaneous Provisions) Act 1995 states as follows, and I quote “Provide (save as otherwise provided by this section) that every person entitled to superannuation benefits under the scheme shall pay contributions to the said fund and that the Board shall from time to time make to the said fund such payments as are determined by the actuary to the scheme”
ESBRSA believe that this revised wording is typical of a “Balance of Cost Scheme”, as indicated by the ESB Pension Fund Actuary during the very public Industrial Relations dispute in December 2013. It makes ESB liable to make payments to the Scheme to address future deficits as determined by the Actuary.
In the Foreword to the Pension Scheme 2014 Annual Report you state and I quote “The Trustees continue to consider the legislation and regulations underlying the Scheme and in particular the Energy (Miscellaneous Provisions) Act 1995.”

In “considering” the above mentioned legislation have you, at any stage, in recent years challenged ESB legally or otherwise with regard to their statutory obligation under this legislation. This would be of particular interest to all Scheme members as certainty on this obligation would guarantee the security of future Scheme funding.
It would also be of particular interest to all Scheme members that you and your fellow Trustees would challenge ESB’s statements in its Annual Reports for the last 5 years that it has no obligation to increase its contributions to the Pension Fund in the event of a deficit. This is contrary to ESB obligations under the amended Section 7 (1) (b) of Electricity Supply Board (Superannuation) Act, 1942.

Questions were also raised with regard to ESB Industrial Council Recommendations 2354 & 2354a issued in 1992 and 1993 dealt with the aftermath of the 1981 Comprehensive Agreement and the merging of the “Manual Workers” and “General” Superannuation Schemes. The full background to these cases is contained in the files held in the Industrial Council offices in Fitzwilliam Place. As part of its commitment to those JIC recommendations ESB gave an undertaking that in the event of Pension Scheme deficits arising in the 30 year period from 1993 to 2023 that these deficits would be referred back jointly with ESB Group of Unions to the Industrial Council for investigation and deliberation. ESB has failed to live up to this commitment, particularly in relation the major Scheme deficit of €1.9 billion in 2008. Are you and your fellow Trustees aware of the background to these JIC recommendations and have you challenged ESB on the Company’s failure to live up to this commitment.

In the Foreword to the Pension Scheme 2014 Annual Report you state and I quote “In light of the regulatory deficit, the Superannuation Committee decided to award no pension increase for 2015”

ESBRSA would submit that this is contrary to the clause in the 2010 Pensions Agreement governing the Solvency Test for the payment of pension increases from 1st January 2014 and I quote “ The Solvency level under the Ongoing Actuarial Valuation is 100% or greater after allowing for payment of the proposed pension increase”

Notwithstanding ESBRSA’s non recognition of the 2010 Agreement between ESB and ESB Group of Unions and without prejudice to our position the statement in the Pension Scheme 2014 Annual Report is contrary to this agreement to which retired members have been subjected to.

There will be further discussions on the subject of a pension increase, particularly in the context of accrued pensions for serving staff being revalued by CPI +1% since January 2012 thereby creating a gap of 5.49% on a compound basis between pensioners and serving staff. The Actuarial Valuation and assumptions contained therein will also be discussed, particularly in relation to the sensitivity analysis and lack of clarity surrounding the strengthening of the life expectancy assumptions in the 2014 valuation given that assumptions in the 2011 valuation were a good estimate for actual scheme experience.
I would appreciate the views and comments of you and your fellow Trustees on the questions raised above and look forward to hearing from you.

Yours sincerely,

Michael MacNamara Hon Secretary
ESBRSA National Executive

Copies to /
Secretary to Trustees
Trustees
Superannuation Committee

UPDATE 13th. January 2016

The Vincent Brown programme (‘The People’s Debate’) will be aired on Wed. Jan. 13th at 10pm on TV3.
(Info from Northside People (East).

Pensions will be one of the topics discussed.

UPDATE 7th. January 2016

The link below brings you to the response of our Chairman NEC to Minister Noonan which was published in the Irish Independent on 7th January 2016

ESBRSA Chairman’s Letter published in Irish Independent 7 Jan 2016

UPDATE 3rd. January 2016

Below is the response of our Chairman NEC to Minister Noonan’s letter dated 22 December, 2015

To
Michael Noonan TD,
Minister for Finance,
Upper Merrion Street,
Dublin 2.
1st January 2016

Dear Minister,
I thank you for your letter dated 22nd December 2015. Or should I be addressing, Mr. Lalor, your private secretary, in whose name replies are issued, or even the officials in the Dept. of Finance, who in reality prepare responses to the Minister’s correspondence. I have my doubts that you, Minister, are, in fact, reading the myriad of correspondence on the subject of the Pensions Levy. If not, you should be made aware of the political implications for this Government as a result of the imposition of this unjust Levy in the context of the upcoming General Election.
I accept your clarification of the differences between the levy on public sector salaries/pensions and the stamp duty of 0.6% imposed as a levy on the assets of Private Pension Funds thereby confiscating €2.4 billion of pensioners’ savings over a 4- year period. You can “dress it up” whatever way you like and use fancy titles such as “PRD” and “PSPR” but the reality is that both levies were introduced by the current Government as austerity measures and targeted the incomes of Public Sector pensioners and the assets Private Pension Funds. The essential difference between the Public Sector Levy and the Levy on Private Pension Funds is that the former is being restored over a number of years to Public Sector staff/pensioners thereby increasing their incomes and the latter has had the effect of permanently reducing the assets of Private Pension Funds by €2.4 billion and consequently the incomes of pensioners from whose incomes the Government Pension Levy is being recovered. The ESB Pension Scheme assets alone were reduced by almost €100 million. The stark reality for private pensioners is that the reductions in their incomes as a result of the recovery of the cost of the levy to Pension Funds is a permanent reduction for the lifetime of the pensioner and also a permanent reduction on a surviving spouses pension for his/her lifetime.
In order for the incomes of private pensioners to be restored in a similar and equitable manner to those of Public Sector staff/pensioners the assets of Private Pension Funds must first be restored. This is an issue of equity for private pensioners. For this reason, I am calling on you, Minister, to restore the assets of €2.4 billion confiscated from Private Pension Funds gradually over a number of years as the economy improves.
An article in Friday’s Irish Independent by Charlie Weston quotes Minister Ged Nash in the context of families being much better off as a result of measures introduced in the last Budget “The scrapping of the pensions levy will mean hundreds of thousands of private-sector workers and pensioners will be better off”.
As clearly explained and outlined above this is not the case and many Government Ministers and TD’s are promoting the scrapping of the Pension Levy by you, Minister, as a gain for pensioners as a result of your decision to scrap the Levy. This is clearly misinformation and false Government propaganda and will be vehemently and strenuously opposed by ESB Retired Staff Association and other Pensioner Organisations by every manner or means. All correspondence on this issue will also be publicised on our website www.esbrsa.ie
I would also ask you, Minister, and your Government colleagues to desist from disseminating misinformation on the subject of the Government Pensions Levy for the purposes of political gain.
Yours sincerely,
Tony Collins
Chairman National Executive
ESB Retired Staff Association

On Tue, Dec 22, 2015 at 9:33 AM, Minister, <Minister@finance.gov.ie> wrote:
An Roinn Airgeadais Oifig an Aire
Department of Finance Office of the Minister
________________________________________
Sráid Mhuirfean Uacht, Telephone: 353-1-676 7571
Baile Átha Cliath 2, Facsimile: 353-1-676 1951
Éire. LoCall: 1890 66 10 10
VPN: 8109
Upper Merrion Street, http://www.irlgov.ie/finance
Dublin 2,
Ireland.

Our Ref: 15/1854/MF

22 December 2015

Mr Tony Collins
Chairman
National Executive Committee
ESB Retired Staff Association
[tonycollins1@eircom.net]

Dear Mr Collins,

The Minister for Finance, Mr Michael Noonan TD, has asked me to respond to your further correspondence regarding the pension fund levy.

It may be worth clarifying the issue of levies relating to public sector pensions, which you mention in your letter. While public service pensions are not fund-based and so have not been subject to the Pension Fund Levy, serving and retired public servants have been subject to the Pension Related Deduction (PRD) and Public Service Pension Reduction (PSPR) as appropriate, reducing, respectively, salaries and pension payments. While changes to the PRD and PSPR are proposed to start from next year which will result in reductions in the PRD and the PSPR, particularly affecting public servants on low and middle incomes and retired public servants in receipt of low pensions, there is no provision for the repayment of PRD or PSPR deductions which have already been made.

Yours sincerely,

___________________
Alex Lalor
Private Secretary
______________________________________________________________

UPDATE 25th. December 2015

HollyWe thank all of our 20,000+ visitors for your support during our first year of ESBRSA Website presence and wish you a Happy Christmas and a Peaceful and Prosperous New Year.
Matt Kelly ESBRSA Website Admin.

UPDATE 18th. December

See Above to get a copy of EM posted to you !!!
See Above to get a copy of EM posted to you !!! (Click on image to enlarge)

Offer closes 29th January 2016

You might like to use the form below to send an email or letter to ESB saying that you would prefer to get a copy of EM posted to you.

Email to the address below

helen.long@esb.ie <helen.long@esb.ie>

Hello Helen,

I request that I be sent printed copies of EM on a bi-monthly basis by post.

“YOUR NAME” (As on your pension payment slip)
Staff No.
“XXXXX”
Address Line1
Address Line2
Address Line3
EIRCODE
XXX XXXX

Kindly acknowledge receipt of this email.

Regards
“YOUR NAME”
_____________________________________________________________________
An important resolution was passed at the recent Dublin H.O. Branch Committee meeting.
See Dublin H.O. Branch page.

___________________________________________________________________

UPDATE 2nd December

 

MPF launches new website

ESB Staff Medical Insurance (MPF) is delighted to announce the launch of our new website www.esbmpf.ie

The site includes information on why MPF is the provider of first choice for ESB Group staff, details of our comprehensive plans and competitive prices, and a ‘Frequently Asked Questions’ section that hopefully will provide you with a quick answer to some of the most common queries we receive from members.

The ‘Guide to Health Insurance’ link we feel will be of great benefit to anybody thinking of private health insurance for the first time or transferring their insurance to MPF. We understand that you may be confused and overwhelmed by the plethora of information on offer from the various health insurers in Ireland and our aim is to demystify the process. We also compare our 3 schemes with the four major health insurers in the Irish market so that you can make an informed decision about your future healthcare armed with all the facts.

We hope you enjoy reading about all MPF has to offer on our new website. It also contains a ‘Contact Us’ section and we would be pleased to hear your views on the website and of course to help with any queries you may have.

__________________________________________________________________

 

UPDATE 1st December

See Above to get a copy of EM posted to you !!!
See Above to get a copy of EM posted to you !!! (Click on image to enlarge)
Offer closes 29th January 2016

 

UPDATE 29th. November

Our thanks to Michael Hughes, John Frain, Charlie Carr and Willie Fitzgerald who have given the names of two of the 1959 Apprentices in the photo in the Gallery page. The new names are Donal Cummins and Michael Kerins. This leaves only two names missing. Can anyone help on this ?

UPDATE 28th. November

Letters from ESBRSA Chairman to Michael Noonan TD,
Minister for Finance

Michael Noonan TD,
Minister for Finance,
Upper Merrion Street,
Dublin 2.
10th November 2015

Dear Minister,
I listened with great interest to your radio interview last week and was very heartened to hear that approx. €4 billion of the €21 billion of taxpayers money used to bailout Allied Irish Bank will be recovered over the next 12 months or so. You also mentioned that there is also the prospect that 25% of the Government’s shareholding in AIB may be sold to recover further funds due to Irish taxpayers.
This presents you with an ideal opportunity to repay some or all of the €2.4 billion unfairly and unjustly confiscated from Pensioners savings over the last 5 years, so I’m calling on you now Minister, to utilise those recovered funds to repay monies raided from Pension Funds.
It is because your Government used such vast sums of money to bail out banks that you imposed such severe austerity measures on the Irish taxpayers. It is only right that the taxpayer should benefit from funds recovered from the banks.
It was also reported in the National Media that the €2.4 billion confiscated from Pension funds surpassed all Government expectations by far exceeding amounts t originally anticipated. You have been rightly and severely criticised by Michael McGrath, Fianna Fail Finance spokesperson and I quote “The Government has presided over a disastrous Pensions strategy, failing to increase the level of pension coverage and raiding the savings of those who have put money aside for their retirement. The raid on private pensions has added to the difficulties of Pension Schemes already struggling to pay benefits that pensioners are entitled to”.
So, Minister, do the decent thing and restore funds confiscated from these Pension Schemes. This may just prevent those already struggling from considering winding-up their Schemes.
You have consistently evaded the real issues surrounding the Pension Levy. Your response, dated 30th July 2015, to my letter of 29th May 2015 is a typical example of this evasiveness, ignoring the fact that pensioners, as a group, have been penalised unduly and disproportionately by the imposition of this Levy. Please see below my letter of 3rd August 2015 to which I have still not received a response. Most commentators have described the Levy as unjust, unfair and a severe imposition on an already marginalised sector of society.
This correspondence, along with all correspondence, sent/received to/from Government departments will be publicised on our website www.esbrsa.ie.
Yours sincerely,
Tony Collins
Chairman National Executive
ESB Retired Staff Association

To: Michael Noonan TD, Minister for Finance
3rd August 2015
Re: Government Pensions Levy
Dear Minister,
Thank you for your response dated 30th July 2015 to my letter dated 29th May 2015.
You have failed to address the main issue raised in my letter. Whether or not the Trustees of a Pension Fund decide to recover the cost of the Government Levy from Scheme members is not the main trust of my letter. The inherent injustice of the confiscation of Pensioners savings is the main issue here and the fact that this Government passed this outrageous legislation in 2011 to enable them to raid the savings of a weaker sector of society to the tune of €2.2 billion over a four year period. The raid on Pension Funds will be discontinued at the end of this year but many pensioners, however, are now coming to the realisation that they will pay the levy for the rest of their natural lives. This will be the current Government’s legacy and will be remembered by all who were affected by it.

To add further insult, the Government are proposing to refund the pension levy on public sector staff and pensioners over the next few years and you have clearly stated in your response that you have no plans to reimburse the levy on private Pension Funds. This inequitable treatment of pensioners as a group is totally unacceptable. You have also targeted the elderly when you introduced measures in Budget 2013 that abolished the telephone allowance for OAP’s and the Bereavement Grant. You have introduced a five-fold increase in prescription charges since entering office and have reduced income thresholds for medical cards twice in that period. The Government have maintained that they have not reduced the State Pension yet since they came into office they have changed the qualifying criteria for the State Pension making it increasingly difficult for individuals to obtain a full pension.
You have also removed tax relief for private medical insurance premiums, introduced charges in public hospital wards for those with private health insurance, which has substantially increased the cost of private health insurance making it impossible for many individuals to continue with private medical cover.

These are election issues and I can assure you Minister, that they will be pursued vigorously in the coming months by ESB Retired Staff Association, who represent the interests of the majority of ESB’s 7,500 pensioners. May I also remind you, Minister, of the size of the “Grey Vote”. The CSO’s Population Growth Scenarios have predicted that 24% of the population will be over 60 in 2016, Election Year. This is more than 1 million, which translates to approx 33% of the total electorate of 3.2 million. The over 60’s are a sector of society who do actually vote in General Elections and will have the power to decide the overall outcome of the Election. Our Association will continue to publicise the real facts surrounding the Levy through our public website www.esbrsa.ie and through a multitude of other channels available to us.
Yours sincerely,
Tony Collins
Chairman National Executive
ESB Retired Staff Association

Communication from Clare Daly

Just a note to update you with regard to some of my attempts over the past number of weeks to try and put pressure on the Government to intervene and address the injustices that remain regarding the IASS. The FEMPI legislation that was before the Dail, in relation to reinstating some of the cuts to public sector workers, was an opportunity I sought to use to table amendments on this issue. There was some discussion on these matters when the Bill was proposed, but my amendments (see below) were ruled out of order and were not permitted to be discussed, on the grounds that they would involve a cost to the Exchequer. Clearly they don’t care about the cost to existing and deferred pensioners!

I have made some points below about the reason why I tabled these amendments and why they were important, in order that you can use some of this information with the Government parties in particular, when they come knocking on your door, that they failed to take this opportunity to address the inequity.

There is a Finance Bill coming up in the next week and again I have tried to use some amendments as part of that bill to see can we get them to take action.

Yours Sincerely,
Clare Daly

Reasons for Putting Forward Amendments regarding IASS Scheme

In moving the latest FEMPI legislation the Government was eager to stress that it was ‘equitable’ to reverse the pay and pension cuts to the public sector now that the economy is, allegedly, back on track. It is equitable, and it is right, that pay and pension cuts that should never have been imposed in the first place are reversed. It remains inequitable that those cuts have not yet been fully reversed, and that so-called public sector ‘restructuring’ continues apace, as I noted at Second Stage of this Bill.

What is profoundly inequitable is that people who spent large parts of their working lives in a company in which the State had a large stake are seeing no reversals in the massive cuts they have taken to their pensions over the past number of years. It’s bad enough that this Government made the unspeakably foolish move of selling off the State’s remaining stake in Aer Lingus – a sale that made no financial sense, a sale that was wholly and entirely unnecessary and which has left Ireland, the only country in Europe without a land link to the rest of the continent, without an airline – that’s bad enough. But for the same Government to do nothing to reverse the changes in brought about in 2009 that allowed current retired & deferred IASS members’ pensions be cut by up to 60%, and to do nothing to try and repair the hole in the IASS pension fund, is really too much.

The amendments, therefore, seek to do something to right the wrong of that situation. It’s an acknowledgement that IASS pensioners, through the stamp duty levy imposed on their pension fund in 2011, have played a part in paying back into the public purse some of the money ripped out of it by the bank bailout. It acknowledges that now that tax receipts are up, it’s only fair that that money be returned to them. It’s also an acknowledgement that the effect of the stamp duty levy on IASS pensions didn’t end when the levy was abolished, and will be felt by pensioners forever if the Government doesn’t take some action. Importantly, it’s an acknowledgement that for people who spent many years working in the service of the State, a decimated pension is the most unjust of rewards. It’s totally unjust that anyone should see their pension destroyed, but it’s all the more upsetting when it’s pensioners who had a reasonable expectation that in working for the State they would be protected by that State in their old age. It’s an unspeakable state of affairs that that has not happened; and it’s just not good enough for this Government to not admit that, and do something about it.

The Government must take responsibility for these pensioners. It must also take for the cuts, as it was changes to legislation that helped to bring things to this pass. While gross mismanagement of the fund’s assets was the most proximal cause of the cuts, the 2009 changes, the 2013 Social Welfare and Pensions Act, the State Airports (Shannon Group) Act, all compounded IASS members’ woes. It has been blow after blow after blow.

And then on top of all of this is the stamp duty levy on private pension funds That 2.53% levy on the Aer Lingus pension fund will reduce the pensions of IASS pensioners forever – its abolition last year won’t make any difference to that. Because the levy was on the fund, it reduced the value of that fund. So what the levy has meant in practice is that there’s even less money to pay out of the fund to IASS members, something that abolition didn’t solve. The only way for the Government to do its bit to help pensioners who have already seen staggering drops in their incomes is to to return the money they collected from the fund to it. Some estimates put the reduction at €35 million. That’s €35 million contributed by IASS pensioners to the public purse. But while public sector pensioners are getting some of the money they contributed back, the IASS pensioners aren’t. This is deeply unfair, and these amendments seek to fix this.

Amendment No. 1

In Page 4, after line 4, to insert the words:

‘AND WHEREAS such pension fund members as spent large portions of their working lives in organisations owned wholly or in part by the State and whose payment of the stamp duty pension levy has contributed substantially to improvements in the public finances, it is equitable to implement a reversal of the pension reductions brought about by that levy –’

Amendment No. 2 (Amendment of Part 3):

After Part 3, No 7:

‘8. Provisions for IASS members

The Act of 2009 is amended by the insertion of the following Sections after Section 11:

12. All monies contributed to the Exchequer since 2011 by the imposition of the stamp duty pension levy on the IASS pension fund shall be returned to that fund before end-2016.

13. The exemption thresholds listed in Table D in Part 3 of this Bill (Pension-related Deductions and Pensions) shall be used in the actuarial calculation of reductions to monthly pension payments to IASS pensioners arising from the application of the Stamp Duty levy on pension fund assets to the IASS pension fund until such time as the provisions in Section 12 have been fulfilled.’

_______________________________________________________________

UPDATE 18th. November

ESB Staff Insurance have advised that when planning a holiday to call them before you travel to to clarify the position with regard to health cover on your Travel Insurance policy. This is to avoid any doubt with regard to health cover, particularly where there are any pre-existing medical conditions.

Letter to Andrea Bruen re Staff Ins Schemes – 21stOct2015

Response from Andrea Bruen re staff ins schemes – 28thOct2015
———————————————–
John Alexander’s Retirement
Just a reminder that John Alexander is having his retirement function on Friday December 4th in the Heritage Hotel Portlaoise at 7.30pm and he would love to see all his friends and colleagues there to celebrate his very successful career with him and his family.
_________________________________________________________________

UPDATE 10th. November

MPF 60th Anniversary Grand Draw

To celebrate the 60th Anniversary of ESB Medical Provident Fund and to thank members for their continued support, a Grand Draw will be held on 18th November 2015. There will be a 1st Prize of a €1500 One4All Gift Card and two runner-up prizes of €250 Gift Cards. All current members on 1/11/2015 will automatically be included in the Draw – no entry is necessary. The winners will be notified by MPF after the Draw. Good Luck to all members and thank you again for contributing to the success of our Fund!!

Regards,
John Conneely | Office Manager ESB Medical Provident Fund | ESB Business Service Centre | T: +353 61 430474 | www.esb.ie
_____________________________________________________________________

UPDATE 9th. November

Athlone and Dublin Region Branch pages have been added to the BRANCH NOTICES drop down menu in the yellow menu bar at the top of the HOME page
___________________________________________________________________

UPDATE 5th. November

Cork Branch page has been added to the BRANCH NOTICES drop down menu in the yellow menu bar at the top of the HOME page
___________________________________________________________________

UPDATE 3rd. November

A new Menu item “Branch Notices” has been added in the top menu bar.
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RETIREMENT

After a successful and distinguished 37 years in ESB, Pat Delmar, Profile Data Services, will retire from ESB on Friday 20th Nov 2015. To mark this special occasion Pat would like to invite his many friends and colleagues to join him for farewell drinks in the Stags Head, upstairs lounge, Dame Court from 5pm on the 20th Nov. Anyone who would like to be associated with Pats retirement please contact Jim Long Ext 43381Or Tony Foy Ext 42946
____________________________________________________________

UPDATE 2nd. November

Responses from Ministers to Dáil Questions asked by TD Seán Fleming
in September

DAIL QUESTION NO. 447

To ask the Minister for Jobs, Enterprise and Innovation his plans to meet with an organisation (details supplied); and if he will make a statement on the matter.
– Sean Fleming.

For WRITTEN answer on Tuesday, 22nd September, 2015.

Ref No: 31087/15

R E P L Y

Minister for Jobs, Enterprise and Innovation (Mr Bruton)

I, along with officials from my Department, met with the National Executive Committee of the ESB Retired Staff Association on July 27th last.

At the meeting the Executive outlined their grievances in relation to collective representation access rights for retired persons on pension matters.

I fully appreciate their concerns and those of retired and deferred members of pension schemes whose schemes are being restructured, particularly where such restructuring may impact on existing or potential pension benefits.

It is important to bear in mind that the industrial relations system in Ireland is voluntary in nature both as regards access to the Labour Relations Commission and the Labour Court. Any change to that principle which would put in place a mandated right to be part of the process would alter fundamentally the conduct of industrial relations.
As it stands, where changes to pension schemes are negotiated at company level whether as a result of a crisis in the scheme or otherwise, the outcome of that engagement cannot, of itself, change the pension scheme. Rather, any proposed changes to the scheme are effected through the trust deeds and rules of the scheme and are at the discretion of the parties so designated in the rules/deeds of the scheme.

In terms of changes to pension schemes generally, the Trustees of a particular pension scheme are required by law to act in the best interests of all the members, be they active, deferred or pensioner members. Until recently, this has been done on an individual basis.

The matter has received careful consideration and, as you will be aware, the Tánaiste and Minister for Social Protection has recently introduced regulations and approved amendments to guidance issued by the Pensions Authority to provide for the recognition by the trustees of a pensions scheme of groups representing the interests of pensioners and deferred members of pension schemes. These changes mean that all groups representing the interests of the various categories of pension scheme membership are treated the same in the context of the provisions in the Pensions Act

The changes to the Regulations will require the trustees of a pension scheme to notify the groups representing the interests of retired and deferred scheme members where the trustees of a scheme propose to apply to the Pensions Authority to restructure scheme benefits under section 50 of the Pensions Act. This notification affords the representative group an opportunity to make a submission to the trustees of the scheme in relation to such proposals.

In addition, the Pensions Authority is now required to notify groups representing the interest of scheme members where the Pensions Authority proposes to either issue a unilateral direction under section 50 of the Pensions Act to the trustees of a scheme to restructure scheme benefits or to wind up a pension scheme under section 50B of the Pensions Act. This notification affords the representative group an opportunity to make representations to the Pensions Authority in relation to such proposals.

The Regulations also give the representative group the right to appeal such a direction by the Pensions Authority to the High Court on a point of law.

In my view it is within this framework, rather than through the State’s industrial relations machinery, that a collective approach should be effected.

Arising from the meeting mentioned earlier, I have asked my officials to liaise further with the Association on the matter.

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WRITTEN question for answer on 22/09/2015 :
To ask the Tánaiste and Minister for Social Protection her plans to meet with an organisation (details supplied); and if she will make a statement on the matter. – Sean Fleming.

Question No: 192 Ref No: 31086/15

To the Tánaiste and Minister for Social Protection
To ask the Tánaiste and Minister for Social Protection her plans to meet with an organisation (details supplied); and if she will make a statement on the matter.
– Sean Fleming.

* For WRITTEN answer on Tuesday, 22nd September, 2015.

R E P L Y
Tánaiste and Minister for Social Protection (Joan Burton T.D.):
Unfortunately, due to overall diary commitments, I am unable to meet the ESB Retired Staff Association (RSA) at this time. However, representatives of the ESB RSA have met with officials from the Department on a number of occasions where their concerns were put forward and discussed. I can assure you that I am aware, through briefings and updates given to me, of the concerns of the Association.

Defined benefit schemes in Ireland are set up and maintained by employers on a voluntary basis. Defined benefit pension schemes in Ireland are generally set up under trust and, in that context, the trustees of a pension scheme are required to act in the best interest of all scheme members.

I have no plans to bring forward amendments to the Pensions Act at this time and will continue to monitor the application of the Act on an ongoing basis.
______________________________________________________________

UPDATE 28th. October

Today the number of page views on our website since it was set up in January 2015 exceeded 50,000 !
Again we thank all our visitors for their interest and support.

UPDATE 26th. October

Today the number of visitors to our website since it was set up in January 2015 exceeded 17,000 !
We thank all our visitors for their interest and support.

UPDATE 25th. October

NEW PHOTOS POSTED IN GALLERY PAGE !

UPDATE 24th. October

Letter to Medical Provident Fund from ESBRSA re Reserves

Ms. Belinda O’Conaill,
Manager, ESB Medical Provident Fund,
27 Lower Fitzwilliam Street,
Dublin 2

15th October 2015

Dear Belinda,
I wish to follow up on some issues raised at the recent Medical Provident Fund AGM on behalf of ESB Retired Staff Association (ESBRSA).
John Nugent, who represented ESBRSA at the meeting, raised the issue of the level of reserves (€41 million) currently held by the Fund. The current minimum legal requirement for the Fund is a reserve level of €9 million. The original intention behind the Fund carrying reserves in excess of the minimum legal requirement was to set up an “Age Reserve” with a view to protecting Fund members against subscription increases when the age profile of the membership increased in later years and to hold those funds in reserve for the “rainy day”.

We believe that the “rainy day” has now arrived and that the excess reserves should now be used to subsidise subscription increases in future years. Many ESB pensioners are finding it difficult to maintain their MPF cover due to the fact that they are on fixed incomes for the past 7 years. They have not received a pension increase in that period and have been hit by many Government imposed charges such as property tax, water charges, USC and the Government Pensions Levy on Pension Funds which the ESB Pension Fund Trustees have decided to recover exclusively from ESB pensioners thus reducing their pensions for their remaining lifetimes.
You indicated at the AGM that you and the MPF Trustees would investigate the practicalities of utilising the reserves in the manner suggested above in an effort to alleviate any further financial pressure on retired members.

The other issue raised at the AGM was in relation to MPF cover for members if they were hospitalised when they were holidaying abroad. This issue was also raised at the AGM in Ennis last year and our Association’s understanding from that meeting was that each case would be taken individually, but if members required hospital treatment abroad that, as a general rule, they would enjoy the same level of cover from MPF as they did when at home in Ireland. There was conflicting information supplied at this years’ AGM with regard to cover abroad. I would appreciate clarification on this issue as some members may go abroad for extended periods and would need to know what MPF cover hay have.
I look forward to hearing from you at your earliest convenience.

Yours sincerely,

Michael MacNamara, Hon Secretary, National Executive, ESBRSA

Copy to all MPF Trustees

UPDATE 21st. October

RETIREMENT

Mick Mackey has retired after over 41 years service. Mick had a very long, successful and distinguished career across ESB and ESB International. To mark the occasion we are having a presentation on Friday 30th October 2015 at 4:30 in Conference Rooms 1 & 2, Stephen Court, ESB International offices. If you would like to contribute to Mick’s presentation please contact: Maureen Ferguson at Ext. 38427 Brid Byrne at Ext. 38334 Regards, Ollie Brogan,Managing Director,ESB International

UPDATE 19th. October

PENSIONER’S DEMANDS FOR LEGISLATION REFORM

The following is a summary of the objectives of the upcoming ESBRSA campaign :

The rights of pensioner Organisations or Associations to represent their members and to influence negotiations and the decision making process that would directly affect their financial security into the future.

That pensioners would have access to the Industrial Relations and Arbitration Machinery of the State.

To ensure that legislative changes are introduced to emphasise Employer responsibility for their Pension Schemes and that it is the Employer who should fund future Pension Protection Schemes as is the case in other EC countries

Pension Levies: We want the restoration of confiscated assets to our Pension Fund.

UPDATE 16th. October

Message from MPF (Medical Provident Fund)

Members of the MPF office team will be in attendance in ESB offices, Swift Square, Santry on Thursday 22nd October 2015.

We would be delighted to help with any query and provide whatever assistance is possible. Also there will be a draw for 2 IPOD shuffles on the day and all who attend will be entered in this draw.

The full details are as follows:

Date : Thursday 22nd October 2015

Venue : ESB, Swift Square, Santry, DUBLIN.

Time : 9.30am to 2pm

Location : Room GA on the Ground Floor (beside the Canteen)

Regards,
John Conneely | Office Manager ESB Medical Provident Fund | ESB Business Service Centre | T: +353 61 430474 | www.esb.ie

UPDATE 13th. October

Pre-Budget Submissions 2016-ISCP IRISH SENIOR CITIZEN’S PARLIAMENT which contains input from ESBRSA

UPDATE 2nd. October

 

Message from MPF (Medical Provident Fund)

ESB Staff Medical Provident Fund is a non-profit contributory medical insurance scheme founded in 1955 for ESB members and their families. In conjunction with the 60th Anniversary of the Fund, 2 members of staff from their Limerick office will attend ESB Portlaoise to meet with Fund members and prospective members to discuss any health insurance issues which they may have.

You are invited to attend as follows;

When ? Monday, 5th October

Where ? Room 5, Training Centre, Abbeyleix Road,

Time ? 10.30 – 12.30 a.m.

We are visiting ESB Leopardstown on Thursday 8th October at the following times and locations :
1. The Lobby area outside the Supervisors offices (phase 2) from 8.30am – 9.30am

2. canteen or adjacent conference room (phase 1) from 9.30am – 10.30am

There will also be upcoming visits in the next few weeks to ESB Santry, ESB Moneypoint and ESB Limerick. ……..Details to be announced.

UPDATE 1st. October

ESB ESOP
Internal Market Results Announcement
The Internal Market held on 24 September 2015 has now been completed.
PricewaterhouseCoopers (PwC), the Internal Market Administrator, has advised the
ESOP Trustee that the weighted average successful bid price was €1.20 per share
(the Market Price) and this is the price that will be paid to all successful sellers.
Please note that all forced sale shares were sold. Participants who offered shares for
voluntary sale at minimum prices equal to or below the market price have been
partially successful and sold some of the shares offered.
PwC will be writing to all successful and partially successful sellers and bidders.
Payments to successful sellers and refunds to unsuccessful bidders will be issued in
the week beginning 12 October 2015.
The ESOP Trustee will be writing to all participants in due course.
______________________________________________________________

UPDATE 24th September

We have been asked by ESB EPA to bring the following to our member’s attention:

ESB’s Flu Vaccination Programme

ESB Occupational health, in conjunction with the EAP Officers, provides a flu vaccination programme to all Active/VSS/retired staff and a small number of spouses every year. This service is free to active/VSS/retired staff, with spouses/civil partners paying just €20.The charge is simply deducted from the ESB staff member’s salary and makes preparing for winter even more affordable.
Occupational health urges everyone to take advantage of this service, and has teamed up with Boots pharmacies to provide the programme via a handy voucher-based system.
Vouchers can be requested from the HR Customer Support Centre by email: OneHR@esb.ie or by phone: 01 7026699 Option 3.
An ESB staff member can request an additional voucher for their spouse/civil partner, too.
If you’re unable to attend a Boots Pharmacy, you may be considered for a GP refund, though, you can simply attend your local GP and submit a refund of up to €25. It’s worth noting that spouses and civil partners are not eligible for this refund.

Vaccine Programme – Running Annually From October to January

Remember that the flu vaccine will not give you the flu; mild side effects of the vaccine include low grade fever, redness at the site of the injection, aches and pains and headaches. These side effects are self-limiting and usually resolve within 48 hours, with the majority of individuals experiencing no side effects. Individuals with an allergy to egg products should not receive the flu vaccine. Also, if you have a fever around the time you would like to get vaccinated, you are advised to wait until it settles. The more people who are immunised against the flu, the less likely it is that the infection will spread through a community

UPDATE 22nd September

We bring you the following information by kind permission ESB EM regarding the details of our Departed Friends as published in the staff newspaper EM.

Departed Friends From 04 Dec 2014 to 11 May 2015

UPDATE 21st September

Response to Alex White TD’s letter of 31Aug2015

Alex White TD,
Minister for Communications Energy and Natural Resources,
Leinster House,
Kildare Street,
Dublin 2

8th September 2015

Your ref: SW-2015214

Dear Minister White,

Thank you for your response to my letter dated 13th July 2015 with regard to the ESB Employee Share Ownership Plan (ESOP).
ESBRSA accept your contention that you do not have a function in the workings of the ESOP Internal Market. That is a matter for the ESOP Trustees. However, as Minister for Communications Energy and Natural Resources and holder of 10 % of ESB Capital Stock you did have a function in approving the joint proposals submitted from both ESB & ESB Group of Unions as joint sponsors of ESOP. As stated in my letter of 13th July, the main problem with the operation of the Internal Markets has been the lack of liquidity and thus the ability to offer fair value to participants for their shares.
ESB sought approval from both your department and the Minister for Public Expenditure and Reform, as owner of 85% of ESB Capital Stock, to participate in the Internal Market in conjunction with the ESOP Trustee in order to provide much needed liquidity. ESB Retired Staff Association (ESBRSA) have been very reliably informed that both your Department and the Department of Public Expenditure and Reform placed severe restrictions on ESB’s participation in the Market and placed an upper limit of €25 million on the funds to be provided by the Company and insisted that the Company’s participation was conditional that all shares purchased by ESB would be cancelled and returned to ESB and consequently Government ownership.
The former ESB Chairman, Lochlann Quinn, advocated a share valuation based on the Net Asset Value of ESB as the fairest and most transparent method, a method of valuation also favoured by our Association. Under that method the share value would be €1.86 per share based on the 2014 ESB Annual Accounts. ESBRSA are also very reliably informed that the former ESB Chairman’s proposal was rejected by both Government Departments on grounds of cost. It would have required an injection of approx. €50 million by the Company to achieve that valuation per share.
The Market will now operate under the proposed changes which are somewhat of an improvement on previous Market rules but do not go far enough to allay the concerns of retired staff. Due to Government imposed restrictions the “Fair Market Valuation” has fallen very much short of expectations. Retired staff however, are still very much disadvantaged in that they are still forced to sell their shares in a market that will not offer them “Fair Value” for their shares and any shares purchased by the ESOP Trustee using dividend monies from participants’ unappropriated shares will be redistributed to serving staff only.
This lack of fairness to retired staff is mainly due to the restrictions that you, and your colleague, Minister Howlin have placed on ESB in the amount of funds they can utilise in buying shares in the market. You are both members of the Labour Party, a party which, supposedly, champions the rights of workers and you have denied ESBRSA members a fair deal under these new proposals. Your letter of 31st August 2015 was patronising, to say the least, and attempted to deny the reality that you and your colleague, Minister Howlin are directly responsible for the situation that now exists with regard to the Internal Market.
ESBRSA would welcome a meeting with both you and Minister Howlin in order to provide all parties with an opportunity to put forward their respective views on these matters.

Yours sincerely,

Michael MacNamara,
Hon Secretary National Executive,
ESB Retired Staff Association

Copy to Brendan Howlin TD, Minister for Public Expenditure and Reform

Response from Min. White re ESOP-4thSept2015
_________________________________________________________________

UPDATE 7th September

Response from Min. White re ESOP-4thSept2015

Letter to Min. White re ESOP- 13thJuly2015

_______________________________________________________________

UPDATE 26th August


ESB ESOP Trustee Limited
The Trustee of the ESB ESOT intends to operate an Internal Market
on 24 September 2015 (the Market Day). Further information and
confirmation of the Market Day will issue to all participants able to
take part in the market.
ESB ESOP Trustee
24 August 2015

UPDATE 22nd August

Page View total now exceeds Forty Thousand (40,000) since the website began !!!

UPDATE 20th August


A document with a summary of TDs replies to the letter seeking Support for PENSION LEVY REFUND is now available in the Lobbying Campaign post at left of screen.

______________________________________________________________

UPDATE 17th August

The following letter dated 10th August is correspondence re the Protest Letter handed in to Tanaiste & Minister for Social Protection on March 3rd 2015. The original Protest Letter is below.

Response from Dept Social Protection 10thAugust2015 (1)

Letter of protest to Joan Burton 3rdMarch2015

UPDATE 3rd August

The following is correspondence re the Pension Levy which will be applied to ESB Pensioners for life was received by ESBRSA

It confirms that the Pension Levy will apply to our pensions for life !!!

To: Michael Noonan TD, Minister for Finance

3rd August 2015

Re: Government Pensions Levy

Dear Minister,

Thank you for your response dated 30th July 2015 to my letter dated 29th May 2015.

You have failed to address the main issue raised in my letter. Whether or not the Trustees of a Pension Fund decide to recover the cost of the Government Levy from Scheme members is not the main trust of my letter. The inherent injustice of the confiscation of Pensioners savings is the main issue here and the fact that this Government passed this outrageous legislation in 2011 to enable them to raid the savings of a weaker sector of society to the tune of €2.2 billion over a four year period. The raid on Pension Funds will be discontinued at the end of this year but many pensioners, however, are now coming to the realisation that they will pay the levy for the rest of their natural lives. This will be the current Government’s legacy and will be remembered by all who were affected by it.

To add further insult, the Government are proposing to refund the pension levy on public sector staff and pensioners over the next few years and you have clearly stated in your response that you have no plans to reimburse the levy on private Pension Funds. This inequitable treatment of pensioners as a group is totally unacceptable. You have also targeted the elderly when you introduced measures in Budget 2013 that abolished the telephone allowance for OAP’s and the Bereavement Grant. You have introduced a five-fold increase in prescription charges since entering office and have reduced income thresholds for medical cards twice in that period. The Government have maintained that they have not reduced the State Pension yet since they came into office they have changed the qualifying criteria for the State Pension making it increasingly difficult for individuals to obtain a full pension.

You have also removed tax relief for private medical insurance premiums, introduced charges in public hospital wards for those with private health insurance, which has substantially increased the cost of private health insurance making it impossible for many individuals to continue with private medical cover.

These are election issues and I can assure you Minister, that they will be pursued vigorously in the coming months by ESB Retired Staff Association, who represent the interests of the majority of ESB’s 7,500 pensioners. May I also remind you, Minister, of the size of the “Grey Vote”. The CSO’s Population Growth Scenarios have predicted that 24% of the population will be over 60 in 2016, Election Year. This is more than 1 million, which translates to approx 33% of the total electorate of 3.2 million. The over 60’s are a sector of society who do actually vote in General Elections and will have the power to decide the overall outcome of the Election. Our Association will continue to publicise the real facts surrounding the Levy through our public website www.esbrsa.ie and through a multitude of other channels available to us.

Yours sincerely,

Tony Collins

Chairman National Executive

ESB Retired Staff Association

Mob 086 8197083
___________________________________________________________________

An Roinn Airgeadais Oifig an Aire

Department of Finance Office of the Minister

——————————————————————————–

Sráid Mhuirfean Uacht, Telephone: 353-1-676 7571

Baile Átha Cliath 2, Facsimile: 353-1-676 1951

Éire. LoCall: 1890 66 10 10

VPN: 8109

Upper Merrion Street, http://www.irlgov.ie/finance

Dublin 2,

Ireland.

Our Ref: 15/1854/MF

30 July 2015

Mr Tony Collins

[Tonycollins1@eircom.net]

Dear Mr Collins,

The Minister for Finance, Mr Michael Noonan TD, has asked me to respond to your correspondence regarding the pension fund levy.

The Minister confirmed in his Budget 2015 speech that the final 0.15% levy will expire at the end of 2015.

The chargeable persons for the pension fund levy are the trustees or other persons (including insurance companies) with responsibility for the management of the assets of the pension schemes or plans. The payment of the levy is treated as a necessary expense of a pension scheme and the trustees or insurer, as appropriate, are entitled, where they decide to do so, to adjust current or prospective benefits payable under a scheme to take account of the levy. It is up to the trustees to decide whether and how the levy should be passed on and who should be impacted and to what extent, given the particular circumstances of the pension schemes for which they are responsible. While the levy itself will expire at the end of 2015 the manner in which the trustees choose to pass it on may entail a longer term but lesser reduction in pension payments. However, should the option of reducing scheme benefits be taken, in no case may the reduction in an individual member’s or class of member’s benefits exceed the member’s or class of member’s share of the levy.

While the final pension fund levy will be ceased as outlined, the Minister has no plans to repay the pension fund levy collected as you suggest. The value of the funds raised by way of the levy have been used to protect and create jobs and this has helped to create the improving financial and economic position of the State. Taxpayers to whom the impact of the levy may have been passed on by the chargeable persons for the levy will benefit from the changes which the Minister began in Budget 2015 and which will continue in future Budgets to reduce the tax burden on low and middle income earners.

Yours sincerely,

___________________

Alex Lalor

Private Secretary

Subject: RE: Pension fund levy

To: Michael Noonan TD, Minister for Finance
29th May 2015

Re: Government Pensions Levy
Dear Minister,
I am writing to you yet again on behalf of the members of the ESB Retired Staff Association regarding the Government Pensions Levy and the impact that this levy has had and will have into the future on those members.
There has been much publicity in the media regarding the Minister for Public Expenditure & Reform’s engagement with Public Service Unions to discuss the reversal of pay cuts and pensions levy for Public Servants yet there has been little said about the €2 billion that the levy on private pensions has contributed to the Exchequer in the last 4 years. To put that amount in perspective, it would be more than what the Property Tax and Water Charges combined would yield in a similar period. This was the greatest “smash and grab” raid by the Government in the history of the State on the savings of pensioners, one of the most vulnerable sectors of society, a sector that does not have a “voice” or access to Government as Public Sector Unions do.
The only publicity that the Levy of private pensions has received is the fact that it is being abolished at the end of 2015. Many TD’s are heralding the end of the Pensions Levy but unfortunately the effects of this Levy on members of Private Pension Schemes will be life-long. The assets of Pensions Schemes have been permanently reduced as a direct consequence of the Levy resulting in members pensions being significantly reduced by Trustees to recover the cost of the Levy. These reductions in pensions will be for the members lifetime so there will be a constant reminder for pensioners on their monthly payslip. When a member dies – as a married person – the spouse is then burdened with this unfair Levy. As far as pensioners are concerned this Governments legacy will be the Pensions Levy and other Budgetary measures that targeted the elderly, such as the abolition of the Telephone Allowance and the Bereavement Grant.
I put it to you, Minister, that in light of the continuing economic recovery that restoration of this Levy should be given serious consideration and Pension Schemes be reimbursed with the amounts confiscated from their Funds. Members of Private Pension Schemes may not have a “voice” or access to Government Ministers but they do have a vote, and, in the absence of any plans to restore the assets of Pension Funds, I expect that a clear message will be sent through the ballot box.
Yours sincerely
Tony Collins
Chairman National Executive
ESB Retired Staff Association
Mob 086 8197083

_________________________________________________________________

UPDATE 30th July

reply from Min Bruton 6th August 2015

Letter to Min. Bruton 29thJuly2015-following meeting 27thJuly

Richard Bruton TD, Ebilou,
Minister for Jobs Enterprise & Innovation, Loughlinstown,
23 Kildare Street, Celbridge,
Dublin 2. Co. Kildare

29th July 2015

Dear Minister,
I wish to thank you and your officials for taking the time to meet with members of the Executive Committee of the ESB Retired Staff Association (ESBRSA) on Monday 27th July 2015 at your office in Kildare Street. I also wish to thank you for your commitment that you and your officials will investigate the serious concerns that ESBRSA have regarding official recognition of our Association and our right to officially represent our members in discussions and negotiations with our former Employer, ESB.
Our discussion on the day was wide ranging, including access for “former workers” to the State’s Industrial Relations Machinery, our Association’s recent experience with the Equality Tribunal, Labour Court & Pensions Authority and the Tanaiste’s recent initiative granting collective representation rights to pensioners when a Section 50 application has been made to the Pensions Authority by Trustees of a Pension Scheme.
The specific circumstances that you agreed to investigate is where an Actuarial Valuation of ESB Pension Scheme reports a deficit in the Pension Scheme, or any other situation where a deficit in the Scheme is reported, that ESBRSA representing the majority stakeholder (66%) in the Pension Scheme will have the right to enter talks, along with the other stakeholders, ESB, and the ESB Unions representing serving staff, to address a Scheme deficit. This situation where a deficit was reported in the Pension Fund has already arisen in recent years. In 2010 ESB and ESB Unions entered into an Agreement/Arrangement on pensions to the exclusion of pensioners to address a Scheme deficit. The resulting Agreement, to which ESBRSA, representing pensioners, had absolutely no input, greatly disadvantaged pensioners as a group. This Agreement reneged on” Pension Promises” given by former Chief Executives and Senior Managers to pensioners, who, under the terms of the 2010 Agreement, were subjected to an “indefinite pay freeze” making an increase conditional on the Fund passing a solvency test, and breaking the traditional link between staff salaries and pensions.
ESBRSA also believe that this agreement entered into by these two parties is detrimental to pensioners who were not party to the agreement and is unconstitutional as demonstrated in a previous Supreme Court Ruling in relation to Registered Employment Agreements (REAs) i.e. It is unconstitutional for two private parties to make an agreement which attempts to be binding on a third party when that third party was not party to the original agreement.
As former ESB workers, our contract of employment is with ESB. It was a condition of employment in ESB that permanent staff were required to become members of the Pension Scheme. This was not a discretionary matter for staff and the age at which one was required to join was specified. ESB pensioners have also contributed in full for their pensions for 40+ years and in some cases 45 years+. Those contributions together with Employer contributions are held in Trust by the Trustees of the Pension Scheme to invest and manage on behalf of Scheme members. They are, in effect, the property of the Scheme member and to deny members, or the mandated representatives of those members, the right to enter discussions/negotiations where the management of the Pension Scheme Assets are the subject of those discussions is an infringement of the property rights of those members and is therefore, unconstitutional.

The right to engage meaningfully with an Employer and the Trustees of an associated pension scheme is the very essence of pensioner grievance. Pensioner representatives, as of right, should be afforded meaningful equality of esteem with Unions representing workers, by having formal input to any or all discussions or negotiations that may bear on pension entitlements – entitlements that flow from the collectively agreed industrial relations employment contract that bound us throughput our working careers and continues to collectively bind us in retirement. We hope that you will take careful note of the issues raised at our meeting and in this letter when you consider their implications, and investigate the setting up of a mechanism to deal with our grievances as outlined above.
I look forward to hearing from you and a positive outcome to your investigation.
Yours sincerely,

Michael MacNamara,
Hon Secretary National Executive,
ESB Retired Staff Association.

Copy to Liam Kelly, DJEI
Copy to ESB Retired Staff Association website administrator

UPDATE 29th July

RESULTS OF ESOP BALLOT
The votes were cast as follows:

Number of votes cast:5735
Number of votes rejected: 47
Number of valid votes cast Yes:5367
Number of valid votes cast No: 321

UPDATE 24th July

The four ESBRSA National Executive Committee officers will meet Richard Bruton, Minister for Jobs, Enterprise and Innovation and his senior officials at Kildare Street offices on Monday next 27th July

( He cancelled the previous meeting scheduled for December 2014 ! )

___________________________________________________________

UPDATE 21st July

A document with a summary of TDs replies to the letter seeking Support for ESBRSA issues is now available in the Lobbying Campaign post at left of screen.

___________________________________________________________

UPDATE 18th July

The following has been received in answer to a query put to ESOP by an ESBRSA member:

Clarification on the allocation of shares acquired by the Trustee on the Internal Market.
The rules provide that shares acquired by the Trustee in this manner will be either notionally allocated to current employee participants with the required qualifying service at the time of allocation or re-sold on future markets. Retired/former employee participants will not receive notional allocations of such shares.

UPDATE 17th July

ESBRSA LOBBYING CAMPAIGN HAS GONE LIVE !!!

ESBRSA LOBBYING CAMPAIGN 2015 ESBRSA LOBBYING CAMPAIGN 2015

_________________________________________________________

ESOP Reply to ESBRSA letter of 13 Jul 2015

 

ESOP ESOP
Employee Share Ownership Plan tor ESB ESB ESOP Trustee Ltd,
43 Merrion Square
Dublin 2
Telephone: 01 702 7970 Email: esop@esb.ie

Mr Michael MacNamaraHon Secretary National Executive Committee
ESB Retired Staff Association Ebilou
Loughlinstown Celbridge
Co Kildare
15 July 2015 Dear Mr MacNamara
I refer to your letter dated 13 July 2015 addressed to the ESOP Chairman, a copy of which will be circulated to the Trustee Board. I refer to your letter dated 13 July 2015 addressed to the ESOP Chairman, a copy of which will be circulated to the Trustee Board.
As you are aware, ESOP participants are currently voting on the proposed Internal Market amendments set out in the Trustee’s 25 June 2015 communication to participants and discussed at the recent information sessions. The package of amendments will be accepted or rejected by a simple majority of the votes cast. The Trustee will notify all participants of the ballot result in due course. As you are aware, ESOP participants are currently voting on the proposed Internal Market amendments set out in the Trustee’s 25 June 2015 communication to participants and discussed at the recent information sessions. The package of amendments will be accepted or rejected by a simple majority of the votes cast. The Trustee will notify all participants of the ballot result in due course.
Yours sincerely Yours sincerely

Fiona MacGregor ESOP Manager
_________________________________________________________

UPDATE 13th July.

 

LABOUR MINISTERS DENY ESB STAFF FAIR VALUE FOR THEIR ESB SHARES
Ministers Brendan Howlin and Alex White have imposed spending restrictions on ESB and limited their capacity to participate in the forthcoming Internal Markets for ESB shares and to deliver fair value to participants in the Employee Share Ownership Plan (ESOP) Ministers Brendan Howlin and Alex White have imposed spending restrictions on ESB and limited their capacity to participate in the forthcoming Internal Markets for ESB shares and to deliver fair value to participants in the Employee Share Ownership Plan (ESOP)
Below are a number of letters re Fair Share Value for Pensioners sent by ESBRSA Below are a number of letters re Fair Share Value for Pensioners sent by ESBRSA
___________ ___________
ESB RETIRED STAFF ASSOCIATION ESTABLISHED 1974
NATIONAL EXECUTIVE COMMITTEE​
​​​​​​​​Ms. Ellvena Graham,​​​​​​​​
ESB Chairperson,
27 Lower Fitzwilliam Street,​​​​​​​​
Dublin 2​​​​​​​​​
13th July 2015
Dear Ms. Graham,
I’m writing to you on behalf of the ESB Retired Staff Association (ESBRSA) with regard to the proposed amendments to the rules of ESB Employee Share Ownership Plan (ESOP). I’m writing to you on behalf of the ESB Retired Staff Association (ESBRSA) with regard to the proposed amendments to the rules of ESB Employee Share Ownership Plan (ESOP).
Following the series of ESOP information sessions which were attended by representatives of the ESBRSA National Executive we wish to highlight how grossly unfair the proposed amendments are to retired staff. Following the series of ESOP information sessions which were attended by representatives of the ESBRSA National Executive we wish to highlight how grossly unfair the proposed amendments are to retired staff.
The ESOP was set up as part of the CCR Agreement in the mid 90’s and the 5% shareholding was awarded to staff in lieu of a salary increase. In excess of 2,000 staff left the Company in the years following that Agreement. The staff delivered on their part by way of increased productivity and ESB made enormous cost savings. It is extremely disappointing that ESB can only make a €25 million commitment over 4 years. In the context of the productivity conceded by staff under CCR this is a paltry amount. The ESOP was set up as part of the CCR Agreement in the mid 90’s and the 5% shareholding was awarded to staff in lieu of a salary increase. In excess of 2,000 staff left the Company in the years following that Agreement. The staff delivered on their part by way of increased productivity and ESB made enormous cost savings. It is extremely disappointing that ESB can only make a €25 million commitment over 4 years. In the context of the productivity conceded by staff under CCR this is a paltry amount.
Those same staff are now retired and comprise at least 60% of ESOP participants. They do not have a voice and do not have representation on the ESOP Board. They are the ones who have been severely disadvantaged by the operation of the Internal Markets to date. Trade Unions do not represent the interests of retired staff. ESBRSA are the only properly constituted body representing the interests of the majority of ESB’s 7,500 pensioners and have a mandate from their members to do so. Those same staff are now retired and comprise at least 60% of ESOP participants. They do not have a voice and do not have representation on the ESOP Board. They are the ones who have been severely disadvantaged by the operation of the Internal Markets to date. Trade Unions do not represent the interests of retired staff. ESBRSA are the only properly constituted body representing the interests of the majority of ESB’s 7,500 pensioners and have a mandate from their members to do so.
Retired staff are now in a position that under current ESOP rules they are forced to sell their shares. In the interest of fairness and equity they should get “Fair Value” for their ESB shares. The former Chairman, Lochlann Quinn, advocated a valuation of shares based on the Net Asset value of ESB and using the figures in the 2014 accounts this values each share at €1.86. This was rejected by Government and given the restrictions they have imposed on ESB’s capacity to participate in the markets it pre-determines a relatively low Fair Market Value range. Retired staff are now in a position that under current ESOP rules they are forced to sell their shares. In the interest of fairness and equity they should get “Fair Value” for their ESB shares. The former Chairman, Lochlann Quinn, advocated a valuation of shares based on the Net Asset value of ESB and using the figures in the 2014 accounts this values each share at €1.86. This was rejected by Government and given the restrictions they have imposed on ESB’s capacity to participate in the markets it pre-determines a relatively low Fair Market Value range.
ESB staff bought into the ESOP as part of the CCR Productivity Agreement and accepted the 5% shareholding in lieu of a salary increase in the expectation of receiving considerable rewards from their shares. If, on the other hand, they had opted for the salary increase, the cost to ESB by way of increased salary costs and pension contributions since 1996 when CCR was concluded would have been enormous in comparison to the prospect of what is now being offered for shares. ESB staff bought into the ESOP as part of the CCR Productivity Agreement and accepted the 5% shareholding in lieu of a salary increase in the expectation of receiving considerable rewards from their shares. If, on the other hand, they had opted for the salary increase, the cost to ESB by way of increased salary costs and pension contributions since 1996 when CCR was concluded would have been enormous in comparison to the prospect of what is now being offered for shares.
Letters have also been sent to Chairman of ESOP Trustees and the Ministers for Public Expenditure and Reform and Communications, Energy & Natural Resources. Copies of all correspondence will be on our website www.esbrsa.ie for our members’ information. Letters have also been sent to Chairman of ESOP Trustees and the Ministers for Public Expenditure and Reform and Communications, Energy & Natural Resources. Copies of all correspondence will be on our website www.esbrsa.ie for our members’ information.
I would appreciate a reply as a matter of urgency.
Yours sincerely,
Michael MacNamara, Hon Secretary, National Executive, ESBRSA
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ESB RETIRED STAFF ASSOCIATION ESB RETIRED STAFF ASSOCIATION
ESTABLISHED 1974 ESTABLISHED 1974
NATIONAL EXECUTIVE COMMITTEE​ NATIONAL EXECUTIVE COMMITTEE​
T. COLLINS​M. MACNAMARA​​A. McCAFFERTY​​J.NUGENT T. COLLINS​M. MACNAMARA​​A. McCAFFERTY​​J.NUGENT
CHAIR​​SECRETARY​​​TREASURER​ ​VICE-CHAIR CHAIR​​SECRETARY​​​TREASURER​ ​VICE-CHAIR
Mr. David Beattie,​​​​​​​​Chairman ESB ESOP,​​​​​​​​
43 Merrion Square,​​​​​​​​
Dublin 2
13th July 2015
Dear Mr. Beattie,
I’m writing to you on behalf of the ESB Retired Staff Association (ESBRSA) with regard to the proposed amendments to the rules of ESB Employee Share Ownership Plan (ESOP).
Following the series of ESOP information sessions which were attended by representatives of the ESBRSA National Executive we wish to highlight how grossly unfair the proposed amendments are to retired staff. Under Trust Law, Trustees are obliged to have equal regard to the interests of all participants. ESBRSA believe that the Trustees have failed to fulfil their obligations to retired staff as follows: Following the series of ESOP information sessions which were attended by representatives of the ESBRSA National Executive we wish to highlight how grossly unfair the proposed amendments are to retired staff. Under Trust Law, Trustees are obliged to have equal regard to the interests of all participants. ESBRSA believe that the Trustees have failed to fulfil their obligations to retired staff as follows:
1. ESOP will spend €25 million of participants dividend monies in addition to the €8 million already spent on buying shares to support future Markets. 1. ESOP will spend €25 million of participants dividend monies in addition to the €8 million already spent on buying shares to support future Markets.
2. Retired staff will not benefit from the re-allocation of €33 million worth of shares despite the fact that their dividend monies have been used to buy those shares. Each member of current staff will gain approx. €7,000 worth of shares in this re-allocation. 2. Retired staff will not benefit from the re-allocation of €33 million worth of shares despite the fact that their dividend monies have been used to buy those shares. Each member of current staff will gain approx. €7,000 worth of shares in this re-allocation.
3. Participants are expected to vote on proposals without knowing the most important element i.e. The Fair Market Value (FMV) of shares. 3. Participants are expected to vote on proposals without knowing the most important element i.e. The Fair Market Value (FMV) of shares.
4. Restrictions imposed by Government on ESB’s capacity to participate in the markets pre-determines a relatively low Fair Market Value range. 4. Restrictions imposed by Government on ESB’s capacity to participate in the markets pre-determines a relatively low Fair Market Value range.
5. The “forced sellers” rule continues to apply to retired staff. 5. The “forced sellers” rule continues to apply to retired staff.
6. No priority given to leavers over other sellers in years 1-3 of the sale period. 6. No priority given to leavers over other sellers in years 1-3 of the sale period.
7. If amendments are carried the next market will be the first forced sale market thus denying retired staff a third market with an option to specify a minimum reserve price on their shares. 7. If amendments are carried the next market will be the first forced sale market thus denying retired staff a third market with an option to specify a minimum reserve price on their shares.
8. There is the big question of where will ESOP get funds to purchase shares to support the Markets in 2017 & 2018 when they won’t have access to dividend monies. 8. There is the big question of where will ESOP get funds to purchase shares to support the Markets in 2017 & 2018 when they won’t have access to dividend monies.
9. There is a commitment to review the process in 2018 but there is no commitment from any of the parties as to what mechanism will be put in place to support the markets for the sale of the balance of shares which will be appropriated no later than 14th December 2016. 9. There is a commitment to review the process in 2018 but there is no commitment from any of the parties as to what mechanism will be put in place to support the markets for the sale of the balance of shares which will be appropriated no later than 14th December 2016.
There were questions raised at the information sessions regarding the validity of the ESOP Trustees right to use participant’s dividend monies to support the markets. Regardless of the tax implications for participants on receiving dividend monies from unappropriated shares, the principle of ESOP Trustees using that money is wrong and very questionable. There were questions raised at the information sessions regarding the validity of the ESOP Trustees right to use participant’s dividend monies to support the markets. Regardless of the tax implications for participants on receiving dividend monies from unappropriated shares, the principle of ESOP Trustees using that money is wrong and very questionable.
The question of ESOP accounting for all income and expenditure was raised. Attendees were informed that accounts were available in the ESOP office. In the interests of full transparency this information should have been automatically provided to all participants on an ongoing basis. It could have been sent as an insert with any of the regular communications to participants at no extra cost. The question of ESOP accounting for all income and expenditure was raised. Attendees were informed that accounts were available in the ESOP office. In the interests of full transparency this information should have been automatically provided to all participants on an ongoing basis. It could have been sent as an insert with any of the regular communications to participants at no extra cost.
I would be grateful of an urgent response to the above issues. I would be grateful of an urgent response to the above issues.
This letter will be published on our website www.esbrsa.ie for members’ information.
Yours sincerely,​​ Michael MacNamara,
Hon Secretary,
National Executive Committee,
ESB Retired Staff Association
Copied to:
Fiona MacGregor ESBESOP Manager
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ESB RETIRED STAFF ASSOCIATION ESB RETIRED STAFF ASSOCIATION
ESTABLISHED 1974 ESTABLISHED 1974
NATIONAL EXECUTIVE COMMITTEE​ NATIONAL EXECUTIVE COMMITTEE​
T. COLLINS​M. MACNAMARA​​A. McCAFFERTY​​J.NUGENT T. COLLINS​M. MACNAMARA​​A. McCAFFERTY​​J.NUGENT
CHAIR​​SECRETARY​​​TREASURER​ ​VICE-CHAIR CHAIR​​SECRETARY​​​TREASURER​ ​VICE-CHAIR
Brendan Howlin TD,​​​​​​​​
Minister for Public Expenditure & Reform,​​​​​
Department of Finance,
Upper Merrion Street,​​​​​​​​
Dublin 2
13th July 2015
Dear Minister Howlin,
I’m writing to you on behalf of the ESB Retired Staff Association (ESBRSA) and with regard to the ESB Employee Share Ownership Plan (ESOP).
Your Department has been involved directly in the talks and negotiations process on finding a solution to the problems surrounding the operation of the Internal Markets for the sale of ESB shares held by participants of ESOP. Your role in the process has become very clear following a series of ESOP information briefings on the details of the proposed amendments to the ESOP rules on the operation of the Internal Markets. Your Department has been involved directly in the talks and negotiations process on finding a solution to the problems surrounding the operation of the Internal Markets for the sale of ESB shares held by participants of ESOP. Your role in the process has become very clear following a series of ESOP information briefings on the details of the proposed amendments to the ESOP rules on the operation of the Internal Markets.
The main problem with the operation of the Internal Markets has been the lack of liquidity and thus the ability to offer fair value to participants for their shares. As Minister for Public Expenditure and Reform and owner of 80% of ESB Capital Stock you have been instrumental in restricting or curtailing the funds that ESB can spend to a total of €25 million over the next 4 years to provide badly needed liquidity in the Markets. Consequently, you are denying ESB retired staff fair value for the shares they are forced to sell in future markets. The main problem with the operation of the Internal Markets has been the lack of liquidity and thus the ability to offer fair value to participants for their shares. As Minister for Public Expenditure and Reform and owner of 80% of ESB Capital Stock you have been instrumental in restricting or curtailing the funds that ESB can spend to a total of €25 million over the next 4 years to provide badly needed liquidity in the Markets. Consequently, you are denying ESB retired staff fair value for the shares they are forced to sell in future markets.
The method of valuation favoured by our Association and the former ESB Chairman, Lochlann Quinn, is the Net Asset Value of ESB. This is the fairest and most transparent method with figures readily available in ESB’s Annual Report. Under that method the share value would be €1.86 per share based on the 2014 ESB Annual Accounts. This was advocated by the former ESB Chairman and submitted to your Department for approval immediately prior to his departure from ESB. Your Department rejected the Chairman’s submission on the share valuation. The method of valuation favoured by our Association and the former ESB Chairman, Lochlann Quinn, is the Net Asset Value of ESB. This is the fairest and most transparent method with figures readily available in ESB’s Annual Report. Under that method the share value would be €1.86 per share based on the 2014 ESB Annual Accounts. This was advocated by the former ESB Chairman and submitted to your Department for approval immediately prior to his departure from ESB. Your Department rejected the Chairman’s submission on the share valuation.
The restriction that you have placed on ESB spending limit severely restricts the ESOP Trustees ability to offer participants what is perceived to be “Fair Value” for the shares that they are forced to sell. You have also placed a condition on ESB’s participation in future Markets that all shares purchased by ESB would be cancelled and revert to ESB ownership, thereby reducing the Employee shareholding and increasing ESB/Governments holding. The restriction that you have placed on ESB spending limit severely restricts the ESOP Trustees ability to offer participants what is perceived to be “Fair Value” for the shares that they are forced to sell. You have also placed a condition on ESB’s participation in future Markets that all shares purchased by ESB would be cancelled and revert to ESB ownership, thereby reducing the Employee shareholding and increasing ESB/Governments holding.
You have the audacity to call yourself a member of the Labour Party, a party which champions the rights of workers. ESB staff bought into the ESOP as part of a Productivity Agreement in the mid 1990’s and delivered their part of the Agreement. ESB achieved huge cost savings as a result of the Agreement and the staff who delivered that productivity, now retired, want a fair price for their shares. You Minister, have denied them that right. You have the audacity to call yourself a member of the Labour Party, a party which champions the rights of workers. ESB staff bought into the ESOP as part of a Productivity Agreement in the mid 1990’s and delivered their part of the Agreement. ESB achieved huge cost savings as a result of the Agreement and the staff who delivered that productivity, now retired, want a fair price for their shares. You Minister, have denied them that right.
This letter will be published on our website www.esbrsa.ie for members’ information.
Yours sincerely,  Michael MacNamara,
Hon Secretary National Executive,
ESBRSA

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UPDATE 11th July.

ON JULY 11TH ON JULY 11TH
ESBRSA WEBSITE HAD THE 10,000TH VISITOR ESBRSA WEBSITE HAD THE 10,000TH VISITOR
SINCE STARTING ON JANUARY 21ST 2015 !!!
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<h <h

UPDATE 9th July.

ESBRSA MEETING WITH ESB GROUP PENSIONS MANAGER ESBRSA MEETING WITH ESB GROUP PENSIONS MANAGER
Two RSA officers had an informal meeting with ESB Group Pensions Manager James O’Loughlin on Monday 6th July. Two RSA officers had an informal meeting with ESB Group Pensions Manager James O’Loughlin on Monday 6th July.
He was accompanied by Paul Duignan ESB Pensions Services Manager. He was accompanied by Paul Duignan ESB Pensions Services Manager.
A formal meeting will take place with the full complement of RSA officers at end of August 2015. A formal meeting will take place with the full complement of RSA officers at end of August 2015.
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UPDATE 8th July.


ESOP PROPOSED INTERNAL MARKET AMENDMENTS
ESOP PROPOSED INTERNAL MARKET AMENDMENTS

WE BELIEVE ESOP BALLOT PAPERS WERE DUE TO BE POSTED TO PARTICIPANTS LAST NIGHT 7th JULY
ESOP INFORMATION SESSIONS FOR PROPOSED INTERNAL MARKET AMENDEMENTS ESOP INFORMATION SESSIONS FOR PROPOSED INTERNAL MARKET AMENDEMENTS

WEDNESDAY 1ST JULY SLIGO, SLIGO PARK HOTEL 14:00 & 18:00 WEDNESDAY 1ST JULY SLIGO, SLIGO PARK HOTEL 14:00 & 18:00
THURSDAY 2ND JULY LIMERICK, CLARION HOTEL STEAMBOAT QUAY 14:00 & 18:00 THURSDAY 2ND JULY LIMERICK, CLARION HOTEL STEAMBOAT QUAY 14:00 & 18:00
FRIDAY 3RD JULY ATHLONE, RADISSON BLU HOTEL NORTHGATE ST 14:00 & 18:00 FRIDAY 3RD JULY ATHLONE, RADISSON BLU HOTEL NORTHGATE ST 14:00 & 18:00
MONDAY 6TH JULY CORK CLAYTON HOTEL SILVER SPRINGS 14:00 & 18:00 MONDAY 6TH JULY CORK CLAYTON HOTEL SILVER SPRINGS 14:00 & 18:00
TUESDAY 7TH JULY DUBLIN BALLSBRIDGE HOTEL PEMBROKE RD (OLD JURY’S) 14:00 & 18:00 TUESDAY 7TH JULY DUBLIN BALLSBRIDGE HOTEL PEMBROKE RD (OLD JURY’S) 14:00 & 18:00
THE PROPOSED INTERNAL MARKET AMENDMENTS GIVES RISE TO THE FOLLOWING QUESTIONS FROM RETIRED STAFF VIEWPOINT THE PROPOSED INTERNAL MARKET AMENDMENTS GIVES RISE TO THE FOLLOWING QUESTIONS FROM RETIRED STAFF VIEWPOINT
Why are there letters from ESB & ESB Group of unions supporting the proposed amendments included yet there is no comment or anybody speaking on behalf of retired staff who comprise more than 60% of participants? Why are there letters from ESB & ESB Group of unions supporting the proposed amendments included yet there is no comment or anybody speaking on behalf of retired staff who comprise more than 60% of participants?

Why are Participants expected to vote on proposals without knowing the most important element i.e. The Fair Market Value (FMV) of shares?
Why are Participants expected to vote on proposals without knowing the most important element i.e. The Fair Market Value (FMV) of shares?


ESOP will spend €25 million of participants dividend monies in addition to the €8 million already spent on buying shares to support the Market. These shares will only be re-allocated to serving staff as per the rules that currently apply. This re-allocation of €33 million worth of shares would equate to €7,000 worth of shares for each member of current staff. This is grossly unfair and not acting in the best interests of all participants. Why weren’t the rules amended to include retired staff in this re-allocation?
ESOP will spend €25 million of participants dividend monies in addition to the €8 million already spent on buying shares to support the Market. These shares will only be re-allocated to serving staff as per the rules that currently apply. This re-allocation of €33 million worth of shares would equate to €7,000 worth of shares for each member of current staff. This is grossly unfair and not acting in the best interests of all participants. Why weren’t the rules amended to include retired staff in this re-allocation?


Why was the “forced sellers” rule not abolished when amendments were being discussed with Government Depts?
Why was the “forced sellers” rule not abolished when amendments were being discussed with Government Depts?


The balance of shares will be appropriated no later than 14th December 2016. Where will ESOP get funds to purchase shares to support the Markets in 2017 & 2018 and what reserves do ESOP currently hold as accounts have never been furnished by ESOP to participants?
The balance of shares will be appropriated no later than 14th December 2016. Where will ESOP get funds to purchase shares to support the Markets in 2017 & 2018 and what reserves do ESOP currently hold as accounts have never been furnished by ESOP to participants?


There are almost 100 million units of ESB Capital Stock vested in ESOP of which approx. 50 Million have been appropriated to participants. It appears that the Minimum Reserve Price (MRP) won’t deviate much from €1 per share given the restrictions imposed by Government on how much ESB can spend in acquiring shares in the Markets. Why has there been a spending limit impose by Government, It predetermines what the MRP will be?
There are almost 100 million units of ESB Capital Stock vested in ESOP of which approx. 50 Million have been appropriated to participants. It appears that the Minimum Reserve Price (MRP) won’t deviate much from €1 per share given the restrictions imposed by Government on how much ESB can spend in acquiring shares in the Markets. Why has there been a spending limit impose by Government, It predetermines what the MRP will be?


ESBRSA recommended using the Net Asset Value of ESB to value the shares. The figures are readily available from ESB’s Annual Report and based on the 2014 report the Net Asset Value per share is €1.86. This is a more transparent way of valuing shares and a much fairer way for all participants.
ESBRSA recommended using the Net Asset Value of ESB to value the shares. The figures are readily available from ESB’s Annual Report and based on the 2014 report the Net Asset Value per share is €1.86. This is a more transparent way of valuing shares and a much fairer way for all participants.

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UPDATE 25th JUNE !

MEETING WITH ESB AGREED FOR 23RD JUNE POSTPONED BY ESB !
The ESB promised next meeting scheduled for June 23rd with the four RSA officers was postponed Friday JUNE 19TH, by ESB, until 30th July 2015.
(Four RSA Officers had a two and a half hours meeting 9th June with ESB Personnel representing the Chief Executive and ESB Board.) (Four RSA Officers had a two and a half hours meeting 9th June with ESB Personnel representing the Chief Executive and ESB Board.)
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REMINDER TO GOVERNMENT MINISTERS !

Letter of protest to Tánaiste Joan Burton TD 3rd March2015 Letter of protest to Tánaiste Joan Burton TD 3rd March2015
RESPONSE TO DATE = Reply received 10 August 2015

Letter of protest to Minister Brendan Howlin TD 3rd March 2015 Letter of protest to Minister Brendan Howlin TD 3rd March 2015
RESPONSE TO DATE = Reply received by email 28th April, 2015

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Please note that the THINK AHEAD – SPEAK FOR YOURSELF booklet
is now available on the website in DOWNLOADS – FORMS
Think Ahead – Speak for Yourself booklet Think Ahead – Speak for Yourself booklet

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UPDATE 10th JUNE !

Meeting with ESB 9th June 2015 Meeting with ESB 9th June 2015
Four RSA Officers had a two and a half hours meeting 9th June with ESB Personnel representing the Chief Executive and ESB Board. Four RSA Officers had a two and a half hours meeting 9th June with ESB Personnel representing the Chief Executive and ESB Board.
There was good exchange and interaction between the parties. There was good exchange and interaction between the parties.
This was as a direct result of the RSA protest outside ESB H/O on 3rd March, protest letters to ESB Chief Executive and separately to individual ESB Board members. This was as a direct result of the RSA protest outside ESB H/O on 3rd March, protest letters to ESB Chief Executive and separately to individual ESB Board members.
The Board then responded via the Chief Executive by letter to RSA on 29th April and promised a meeting, which took place yesterday. The Board then responded via the Chief Executive by letter to RSA on 29th April and promised a meeting, which took place yesterday.
A further meeting is scheduled with ESB for Tuesday 23rd June 2015. (These meetings are separate to ‘The Way Forward’ forum). A further meeting is scheduled with ESB for Tuesday 23rd June 2015. (These meetings are separate to ‘The Way Forward’ forum).
Michael MacNamara Hon Secretary ESBRSA Michael MacNamara Hon Secretary ESBRSA
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ESBRSA Response to ESB CE’s letter of 29th April 2015

ESBRSA has received a reply from Chief Executive ESB Mr. Pat O’Doherty dated 29th April, 2015, to our Letter of 3rd March and subsequent letter of April, 17th to Acting ESB Chairman Ms Ellvena Graham. ESBRSA has received a reply from Chief Executive ESB Mr. Pat O’Doherty dated 29th April, 2015, to our Letter of 3rd March and subsequent letter of April, 17th to Acting ESB Chairman Ms Ellvena Graham.
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Response from ESB CE re RSA letters 3rd March & 17th April Response from ESB CE re RSA letters 3rd March & 17th April
See MEDIA RELEASES in ABOUT RSA
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UPDATE 8th JUNE !

 

ESB Pension Declaration form 2015 ESB Pension Declaration form 2015
Further to recent RSA correspondence to/from ESB Pensions regarding the 2015 Declaration Form, I can confirm RSA have written Further to recent RSA correspondence to/from ESB Pensions regarding the 2015 Declaration Form, I can confirm RSA have written
to the Data Protection Commissioner for clarification.
to the Data Protection Commissioner for clarification.

The issue here for the Data Protection Commissioner will be the fact that all of this happened without reference to Pension Scheme members The issue here for the Data Protection Commissioner will be the fact that all of this happened without reference to Pension Scheme members
and they were unaware that this work was being done by a third party and in another jurisdiction, and that their personal data was released and they were unaware that this work was being done by a third party and in another jurisdiction, and that their personal data was released
without their permission. Hopefully we get a positive response. without their permission. Hopefully we get a positive response.
I will copy you with the response immediately I receive it. I will copy you with the response immediately I receive it.

Michael MacNamara Hon Secretary ESBRSA Michael MacNamara Hon Secretary ESBRSA
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UPDATE 4th JUNE !

Reply to ESBRSA re Annual Declaration Process from Group Pensions Manager ESB Reply to ESBRSA re Annual Declaration Process from Group Pensions Manager ESB

UPDATE 3rd JUNE !

>

Letter to Pensions Manager re Declaration form -3rdJune2015 Letter to Pensions Manager re Declaration form -3rdJune2015

UPDATE 29th MAY, 2015 !

Letter to Finance Minister re Pensions Levy 27 May 2015 Letter to Finance Minister re Pensions Levy 27 May 2015
Letter to ESOT with Questions re Internal Market Proposals-8th May 2015 Letter to ESOT with Questions re Internal Market Proposals-8th May 2015
ESBRSA encourages all members who are ESOP Participants to write to ESOP Chairman and Trustee Board Members using the above letter as a template to ask the questions in a personal capacity as shareholders. ESBRSA encourages all members who are ESOP Participants to write to ESOP Chairman and Trustee Board Members using the above letter as a template to ask the questions in a personal capacity as shareholders.
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UPDATE 24th MAY, 2015 !

Sunday Business Post Article by Michael Brennan and Fearghal O’Connor 24th May 2015 ESB to buy workers shares Sunday Business Post Article by Michael Brennan and Fearghal O’Connor 24th May 2015 ESB to buy workers shares
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ESBRSA Response to ESB CE’s letter of 29th April 2015 ESBRSA Response to ESB CE’s letter of 29th April 2015
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Protest letter to Pensions Manager re pension increase 3rd March2015 (doc) Protest letter to Pensions Manager re pension increase 3rd March2015 (doc)
RESPONSE TO DATE = Acknowledgement to RSA letters to Pensions Manager of 3rd March & 13th April received in post 18th May. RESPONSE TO DATE = Acknowledgement to RSA letters to Pensions Manager of 3rd March & 13th April received in post 18th May.
Acknowledgement from Pens Mngr 15th May 2015
Acknowledgement from Pens Mngr 15th May 2015
Letter dated 12th May and postmarked 15th May Letter dated 12th May and postmarked 15th May

Letter of protest to Joan Burton 3rd March2015 Letter of protest to Joan Burton 3rd March2015
RESPONSE TO DATE = Reply received 10 August 2015
Letter of protest to Minister Howlin 3rd March 2015 Letter of protest to Minister Howlin 3rd March 2015
RESPONSE TO DATE = ZERO RESPONSE TO DATE = ZERO
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UPDATE 5th MAY, 2015
ESBRSA has received a reply from Chief Executive ESB Mr. Pat O’Doherty dated 29th April, 2015, to our Letter of 3rd March and subsequent letter of April, 17th to Acting ESB Chairman Ms Ellvena Graham.
Response from ESB CE re RSA letters 3rd March & 17th April
See MEDIA RELEASES in ABOUT RSA
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UPDATE 3RD MAY, 2015 UPDATE 3RD MAY, 2015
ACNOWLEDGEMENT OF ESB RSA LETTER OF 17th APRIL, HAS BEEN RECEIVED DATED APRIL 30th FROM OFFICE OF
MINISTER OF FINANCE MINISTER OF FINANCE
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Individual letters were posted 15th April, 2015 by ESBRSA with a copy to ESB Chair and ESB Chief Executive to the following Unions:
Nationally – Jack O’Connor SIPTU, Eamon Devoy TEEU, Jimmy Kelly UNITE and Fran O’Neill ESU. Nationally – Jack O’Connor SIPTU, Eamon Devoy TEEU, Jimmy Kelly UNITE and Fran O’Neill ESU.
Locally – Jimmy Nolan Acting Secretary ESB GOU, Adrian Kane c/o GOU and Richie Brown c/o GOU.
Locally – Jimmy Nolan Acting Secretary ESB GOU, Adrian Kane c/o GOU and Richie Brown c/o GOU.

Seperately, individual letters were posted to the ESB Chair and ESB Chief Executive with a copy to all above Union individuals. Seperately, individual letters were posted to the ESB Chair and ESB Chief Executive with a copy to all above Union individuals.
These letters were about the 1995 Act and the ESB 2014 Accounts-published recently – and the impending Company Actuarial Valuation. The letters are available at ABOUT RSA / MEDIA RELEASES These letters were about the 1995 Act and the ESB 2014 Accounts-published recently – and the impending Company Actuarial Valuation. The letters are available at ABOUT RSA / MEDIA RELEASES
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The National Executive Committee (NEC) Chairman Tony Collins and NEC Secretary Michael MacNamara attended the Lanesboro Branch AGM on Wednesday 15th April. There was a very informative information session followed by a very active Q & A session. The National Executive Committee (NEC) Chairman Tony Collins and NEC Secretary Michael MacNamara attended the Lanesboro Branch AGM on Wednesday 15th April. There was a very informative information session followed by a very active Q & A session.
Lanesboro NEC VISIT 1k
L-R in photo Tony Collins Chairman NEC, George Shedwell Chairman Lanesboro Branch RSA, Michael MacNamara Secretary NEC at the Lanesboro Branch April Meeting > L-R in photo Tony Collins Chairman NEC, George Shedwell Chairman Lanesboro Branch RSA, Michael MacNamara Secretary NEC at the Lanesboro Branch April Meeting >
Thanks to Brendan Whitty (Treasurer) Lanesboro for the photo. Thanks to Brendan Whitty (Treasurer) Lanesboro for the photo.

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All members are requested to lobby their TD’s by sending them a letter based on the suggested content provided in the DOWNLOADS / FORMS item All members are requested to lobby their TD’s by sending them a letter based on the suggested content provided in the DOWNLOADS / FORMS item

___________________________________________________________ See new MEDIA RELEASE (2) Re Promises to Pensioners 12 APRIL, 2015.
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In Response to Letters of Protest a meeting between ESBRSA and Officials from Department of Jobs Enterprise and Innovation took place on Wednesday 8 april, 2015 ! In Response to Letters of Protest a meeting between ESBRSA and Officials from Department of Jobs Enterprise and Innovation took place on Wednesday 8 april, 2015 !
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ESB Traditional Approach to Pensions
ESB Traditional Approach to Pensions Above
Current approach of ESB Management to Pensions As stated in the 2014 Annual Report
“ESB has no obligation to increase contributions to maintain benefits in the event of a deficit and the Company does not intend that any further contributions, other than the normal ongoing contributions and the balance of the Company’s €591 million additional contribution (committed to as part of the 2010 Pensions Agreement), will be made.”
ESBRSA PROTESTERS AT ESB HO
ESBRSA PROTESTERS AT ESB HO
Protest Letters Lodged at ESB HO
Protest Letters Lodged at ESB HO

ESB RSA

REPRESENTING ESB PENSIONERS

AND STAFF ON VSS

NEWS FLASH !!

ESBRSA PROTEST

AT ESB HEAD OFFICE, DUBLIN AT ESB HEAD OFFICE, DUBLIN

TOOK PLACE ON TUESDAY 3rd MARCH 2015 at 12 NOON

MORE THAN 700 PENSIONERS PROTESTED !

Sunday Independent 22 March, Shane Ross, Pensions Deferred = Pensions Denied Sunday Independent 22 March, Shane Ross, Pensions Deferred = Pensions Denied
Sunday Business Post Article by Fearghal O’Connor – 7,500 ESB pensioners Claim -15 March 2015 Sunday Business Post Article by Fearghal O’Connor – 7,500 ESB pensioners Claim -15 March 2015
Thank you letter to branches re protest 11 March, 2015 Thank you letter to branches re protest 11 March, 2015

Letters to Media re no coverage – 5 March, 2015 Letters to Media re no coverage – 5 March, 2015
CHAIRMAN ESBRSA AT ESB 1k
Eight prepared letters of Protest which are published on this website were presented to the following: Eight prepared letters of Protest which are published on this website were presented to the following:
ESB Chief Executive ESB Chief Executive
ESB Group Pensions Manager, copied to all (7) seven Trustees ESB Group Pensions Manager, copied to all (7) seven Trustees
ESB Chairman and Board Members ESB Chairman and Board Members
Chairman ESB Pension Fund, copied to all (8) Trustee Members and also to all Superannuation Committee (9) Chairman ESB Pension Fund, copied to all (8) Trustee Members and also to all Superannuation Committee (9)
Representatives from ESB accepted these letters at ESB HO Reception. Representatives from ESB accepted these letters at ESB HO Reception.
An attempt to deliver a Protest Letter to Chairman ESB ESOP at the office at 43 Merrion Square was met by an unanswered door with a Brinks security guard visible in the hallway. An attempt to deliver a Protest Letter to Chairman ESB ESOP at the office at 43 Merrion Square was met by an unanswered door with a Brinks security guard visible in the hallway.
Letter re protest to ESOT Chair-26Feb2015 Letter re protest to ESOT Chair-26Feb2015

EMAIL TO CHAIRMAN ESOT DATED 06 MARCH EMAIL TO CHAIRMAN ESOT DATED 06 MARCH

ESOP DOOR REMAINS CLOSED TO MEMBERS
ESOP DOOR REMAINS CLOSED TO MEMBERS

ESBRSA will send this Protest Letter by Registered Mail as no other communication means appears possible. ESBRSA will send this Protest Letter by Registered Mail as no other communication means appears possible.
Letters of Protest were also presented at the gates to the Taoiseach’s Office in Merrion Street to representatives for: Letters of Protest were also presented at the gates to the Taoiseach’s Office in Merrion Street to representatives for:
Taniste Joan Burton Taniste Joan Burton
Minister for Jobs,Enterprise & Innovation, Richard Bruton Minister for Jobs,Enterprise & Innovation, Richard Bruton
Despite prior notification Despite prior notification
no representative
no representative

of the Minister of Public Expenditure & Reform Brendan Howlin (Who holds 85% of ESB Share Stock) met with us and the letter will be sent by Registered Mail. of the Minister of Public Expenditure & Reform Brendan Howlin (Who holds 85% of ESB Share Stock) met with us and the letter will be sent by Registered Mail.
All of the above Protest Letters are available in the ABOUT – MEDIA RELEASES SECTION on this website and below. All of the above Protest Letters are available in the ABOUT – MEDIA RELEASES SECTION on this website and below.
ESBRSA letter to ESB Board 3rd March2015 (doc) ESBRSA letter to ESB Board 3rd March2015 (doc)
RESPONSE TO DATE = Reply received dated 29th April 2015 RESPONSE TO DATE = Reply received dated 29th April 2015
Protest Letter to David Beattie- 3rd March2015 Protest Letter to David Beattie- 3rd March2015
RESPONSE TO DATE = ESBRSA LETTER OF PROTEST RECEIPT ACKNOWLEDGED IN LETTER FROM ESOP DATED 16TH MAR, 2015 RESPONSE TO DATE = ESBRSA LETTER OF PROTEST RECEIPT ACKNOWLEDGED IN LETTER FROM ESOP DATED 16TH MAR, 2015
Letter of protest to Chair of ESB Pension Fund Trustees 3rd March2015 Letter of protest to Chair of ESB Pension Fund Trustees 3rd March2015
RESPONSE TO DATE = A SINGLE LETTER DATED 24TH APRIL, 2015, ACKNOWLEDGING RECEIPT OF RSA LETTERS OF 3RD MARCH, 13TH APRIL & 17TH APRIL, 2015 HAS BEEN RECEIVED. RESPONSE TO DATE = A SINGLE LETTER DATED 24TH APRIL, 2015, ACKNOWLEDGING RECEIPT OF RSA LETTERS OF 3RD MARCH, 13TH APRIL & 17TH APRIL, 2015 HAS BEEN RECEIVED.
Protest letter to Pensions Manager re pension increase 3rd March2015 (doc) Protest letter to Pensions Manager re pension increase 3rd March2015 (doc)
RESPONSE TO DATE = Acknowledgement to RSA letters to Pensions Manager of 3rd March & 13th April received in post 18th May. RESPONSE TO DATE = Acknowledgement to RSA letters to Pensions Manager of 3rd March & 13th April received in post 18th May.
Acknowledgement from Pens Mngr 15th May 2015
Acknowledgement from Pens Mngr 15th May 2015
Letter dated 12th May and postmarked 15th May Letter dated 12th May and postmarked 15th May

Protest letter to ESB Chief Executive 3rd March2015 (doc) Protest letter to ESB Chief Executive 3rd March2015 (doc)
RESPONSE TO DATE = Reply received dated 29th April 2015 RESPONSE TO DATE = Reply received dated 29th April 2015
Letter of protest to Joan Burton 3rd March2015 Letter of protest to Joan Burton 3rd March2015
RESPONSE TO DATE = Reply received 10 August 2015
Letter of protest to Richard Bruton 3rd March2015 Letter of protest to Richard Bruton 3rd March2015
RESPONSE RECEIVED = MEETING TOOK PLACE WITH DEPT. OFFICIALS WED. 8 APRIL, 2015
Letter of protest to Minister Howlin 3rd March2015 Letter of protest to Minister Howlin 3rd March2015
RESPONSE TO DATE = Reply received by email 28th April, 2015

ESBRSA MEDIA RELEASE(1) re 1995 Act 24 FEB 2015
ESBRSA MEDIA RELEASE(1) re 1995 Act 24 FEB 2015
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Please note that the THINK AHEAD – SPEAK FOR YOURSELF booklet
is now available on the website in DOWNLOADS – FORMS
Think Ahead – Speak for Yourself booklet
€40 was donated to the Irish Hospice Foundation by members at the Galway Branch AGM
€80 was donated to the Irish Hospice Foundation by members at the Dublin HO Branch AGM
€60 was donated to the Irish Hospice Foundation by members at the Dublin Region & Stations Branch AGM

UPDATE 21st MAY, 2015!

THE AGM OF THE DUBLIN REGION & STATIONS BRANCH TOOK PLACE IN WYNN’S HOTEL,
35-39 LOWER ABBEY STREET, DUBLIN 1, ON THURSDAY 11th JUNE 2015 AT 14:00.

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The AGM of the Retired Staff Association Galway Branch was held on
Tuesday 2nd June 2015 in Menlo Park Hotel, Headford Road, Galway at 10.30 AM.

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THE AGM OF DUBLIN H.O. BRANCH OF ESBRSA TOOK PLACE ON TUESDAY 19th MAY IN WYNN’S HOTEL, ABBEY ST. DUBLIN 1 AT 2:15PM .
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UPDATE 20 MAY, 2015 !

Result of ESOP Ballot
The ESOP Trustee Board has announced the result of the recent ballot of ESOP participants.

The votes were cast as follows:

Number of votes cast: 5461
51% of ESOP participants

Number of votes rejected: 22

Number of valid votes cast Yes: 5044
92% of votes cast

Number of valid votes cast No: 395

The ESOP Trustee Board declares that the motion to seek to amend the market rules to defer the Internal Market scheduled to take place on 29 May 2015 and to reschedule that market on a date no later than 30 September 2015 has been approved by 92% of votes cast.
The ESOP Trustee will shortly be writing to all ESOP participants on this.

ANNOUNCEMENT ! 28th April, 2015

St Patrick’s Credit Union are now inviting applications for a members Car Draw. The cost is €1 per week. There are a number of payment options, including an annual deduction of €52 from your shares.
The first draw will be in the summer so enter by 31st May 2015 to be in with a chance of winning a brand new Nissan Qashqai.
See full details in ESB RSA Latest News Items

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UPDATE 4th MAY, 2015
Reminder to all ESOT Participants

It would be in all our interests to postpone the Internal Market until we
have an opportunity to examine the proposals to improve the operation of the
Market
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Think-Ahead-July-2014 Planning Ahead Book

Thinking_Ahead_Serious_Illness Book from MABs re Wills etc.

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