GSP 24-24 Pension Increases – An Post
01/November/2024
Description
The current pay agreement provides for a 2% pensionable pay increase, effective from 1st January 2024.
In an effort to get this payment as soon as possible the CWU requested, following acceptance of the pay deal in the ballot, that the Company immediately seek the necessary approval from the Minister for Public Expenditure and the Minister for Communications to allow the pension increase to be paid.
In addition to this the CWU made separate representations to both Ministers requesting the process of approval be expedited for the benefit of our pensioner members.
I am pleased to advise the pension increase secured by the CWU, has now been approved. An Post has confirmed arrangements are in place to pay the increase and retrospection to pensioners on the 22nd November 2024.
The pay agreement also provides for a further 3% increase in pay from the 1st January 2025 and I have requested the company to make arrangements to pay this early in the new year. In accordance with our agreements, a further 2% pensionable increase will be applied to staff pensionable pay scales and will then be passed on to retired staff following approval by Ministers. I intend to make the same representations to the relevant Ministers in due course.
Separately, discussions in respect of the outcome of the triennial pension review by the actuary Mercers, will take place in 2025. On the basis of the continued strong performance of the Superannuation Scheme Fund the Union will seek to secure further additional increases for staff and to have these also applied to pensioners.
Branches will be updated on progress, but in the meantime, I would appreciate that you would advise our retired members.