Section 46 of the Postal and Telecommunications Act 1983 provides for the preparation and submission by An Post, of a scheme or schemes for the granting of pensions, gratuities and other allowances on retirement or death to or in respect of such members of staff of An Post as it may think fit.
Every such scheme shall fix the time and conditions of retirement for all persons to or in respect of whom pensions, gratuities or allowances are payable under the scheme.
A scheme submitted by An Post under Section 46 shall, if approved by the Minister for Posts and Telegraphs (now Communications) with the concurrence of the Minister for the Public Service (now Public Expenditure and Reform), be carried out by An Post in accordance with its terms.
In order to comply with pensions legislation, specifically the minimum funding standard, I understand that An Post has proposed some changes to the terms of its pension scheme. Once I receive a proposal in this regard, I will consider it along with my colleague the Minister for Public Expenditure and Reform.