My understanding is that the ESB Pension Scheme(s) were set up min 1946.
The legislation (I am told) is that any shortfall in funding was to be made up by the Company AND the employees by agreement.
This does not appear to me to be a DB Scheme on the basis that the employer is not on the hook for the deficit unless and until the Employer agrees. That payment could be 0% to 100% or anywhere in between.
Is it not the case that whatever this creature is - its not DB.
Who advised Mr Ogle?
Any views?
The legislation (I am told) is that any shortfall in funding was to be made up by the Company AND the employees by agreement.
This does not appear to me to be a DB Scheme on the basis that the employer is not on the hook for the deficit unless and until the Employer agrees. That payment could be 0% to 100% or anywhere in between.
Is it not the case that whatever this creature is - its not DB.
Who advised Mr Ogle?
Any views?