Dáil Éireann debate -
Wednesday, 28 Feb 1996

Vol. 462 No. 3

Written Answers. - ESB Employee's Benefits.

Seamus Brennan

Question:

139 Mr. S. Brennan asked the Minister for Transport, Energy and Communications the benefits and rights of a 50 year old ESB employee who joined the board at age 19 with current basic pay equal to the average basic pay of all ESB employees and a current gross pay rate equivalent to the current average gross pay of all ESB employees; and the amount he will receive, if he accepted and implemented the proposed CCR redundancy terms on 31 August 1996. [4713/96]

Minister for Transport, Energy and Communications (Mr. Lowry)

I have been advised by ESB that assuming an average superannuatable salary of £19,000 the employee would receive a lump sum of £19,000 and retirement pay of 50 per cent i.e. £9,500 p.a., pre taxation and full employee superannuation contributions, until age 60. Upon reaching 60 the employee would draw his/her pension based on reckonable service from the ESB superannuation scheme.