In October 2004, the board of An Post submitted a proposal to amend the existing An Post pension scheme to allow payment of Sustaining Progress increases to pensioners.
By way of background, the existing terms of the An Post superannuation scheme provide for pay parity, that is, that pensions are increased in line with the pay of serving staff. This is in accordance with public service pension policy generally, pay parity being an integral and well established practice which is widely applied in public service pension schemes.
Following examination of the issue and taking into consideration the implications of providing a precedent that could impact adversely on pension policy generally in the wider public sector, in particular the existing practice of pay parity, payment of sustaining progress increases to An Post pensioners is not possible at this time.
The way forward is to reach agreement in partnership with An Post unions to the restructuring plan aimed at securing the future of the company.