The Secretary of the ESB Group of Unions has said there is no danger of industrial action taking place following agreement reached at the Labour Relations Commission yesterday
Speaking on RTÉ's Today with Seán O'Rourke, Brendan Ogle said unions were now absolutely reassured that when there is an actuarial deficit in the company's pension scheme that money will be put in to fix it.
The threatened strike action at the ESB was averted following talks last night.
Mr Ogle said as far as unions were concerned the minimum deficit that will go on the company's balance sheet based on actuarial reports to the Labour Relations Commission is €369m.
However, he said that was a matter between the ESB and its auditors.
Mr Ogle said statements that referred to the accounting treatment of the pension scheme as a defined contribution scheme had been removed.
He said it was not the objective of the unions to damage the financial position of the company.
Mr Ogle also confirmed that gardaí were investigating serious threats that had been made to his life, and against his family a week ago, in the wake of the threatened strike.
He said he believed gardaí were taking the threats seriously.
Earlier, an ESB statement following last night's agreement was described as "irresponsible".
The Acting General Secretary of the Technical, Engineering and Electrical Union said the statement ignored what had been stated in the LRC agreement in relation to the pension scheme.
Speaking on RTÉ's Morning Ireland, Arthur Hall said the agreement stated that the scheme was a defined benefit scheme.
He said it stated that should deficits arise the established practice would be that the parties engage with each other to agree arrangements to deal with the deficits.
He called on Minister for Communications, Energy and Natural Resources Pat Rabbitte to call in ESB management and tell them to read the agreement they had signed.
The ESB statement said no further liabilities will be added to the company's balance sheet as a consequence of the company pension scheme being treated as a defined benefit scheme.
In a statement this morning, the ESB reiterated that "it accepts the LRC brokered settlement to the pensions dispute".
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