Confirmation that more than 7,000 An Post pensioners will start to receive backdated cost of living increases at the end of this month has been welcomed by the union representing the largest number of staff at the company.
The Communications Workers Union (CWU) said the company had confirmed that the required ministerial approvals for the increases had been received and the first increase, a 5 per cent rise backdated to January 1st, 2022, is to be paid before the end of the month.
Additional increases – 2 per cent backdated to January 1st of this year and 1 per cent backdated to July 1st – are to be paid in the following weeks with the pensions expected to be up to date by November.
Many of An Post’s former staff rely completely on the pension as they are not entitled to receive a separate State pension. The union puts the average pension entitlement after 40 years working at the company at €320 per week.
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The union had argued that the pension increases were fully funded as the pension fund is in significant surplus.
“Our retired colleagues have endured an unnecessary delay in receiving the payments due to them and secured by their union,” said CWU general secretary Seán McDonagh.
The union said it would press for the procedures in approving such increases, which currently involve two Government departments and the organisation that provides financial and commercial advice to Government Ministers and departments in relation to State companies, NewEra, to be streamlined in order to avoid a repeat of the delays.
