Retired workers at An Post and eir are set to receive pension increases following ministerial approval as part of separate pay agreements established with the Communications Workers’ Union (CWU) earlier this year.
The Minister for Communications and the Minister for Public Expenditure and Reform have granted the necessary approvals for these pension increases, which are mandated under the respective pension schemes of both companies.
Starting January 1, 2024, retired employees of An Post will benefit from a 2% increase in their pensionable pay. The company has committed to implementing these increases and settling any related arrears by November 22, 2024. Meanwhile, retirees from eir will see a slightly larger increase of 2.5%, effective July 1, 2024. In total, these adjustments will affect around 11,000 former eir employees and 7,000 retirees from An Post.
CWU General Secretary Seán McDonagh expressed appreciation for the swift approval from the ministers, stating, “Following representations made by the CWU to Ministers, approval of pensions increases under the current agreements has been expedited.” He emphasized the importance of ensuring that all increases and arrears are paid to pensioners without delay.
McDonagh also indicated that the CWU plans to negotiate further increases in pensionable pay for active workers, with hopes that these adjustments will be extended to retirees at both companies by 2025.
The pay deal for An Post, announced in April, includes an 8% increase in base salary to be distributed over three phases, with the agreement set to conclude on December 31, 2025. In contrast, the agreement at eir was reached with the assistance of the Workplace Relations Commission (WRC) and provides for an 11% base pay increase over a 33-month period for employees earning up to €50,000, and a 10% increase for those earning up to €70,000.
These developments are part of broader efforts to enhance financial security for retired workers at both companies, highlighting the ongoing negotiations between unions and management to ensure fair compensation for past and present employees. With the increases now approved, both An Post and eir retirees can look forward to improved financial support in their retirement years.
