Is the BOI defined benefit fund viable or is it being subsidised by the company (i.e. the current employees)?
What were the issues that led to the 1992 strike?
Central Bank Staff to get one extra day off after getting 85% on Balanced Scrore Card
- Thread starter cremeegg
- Start date
What were the issues that led to the 1992 strike?
The bank wanted to serve plain hob-nobs instead of chocolate-covered ones in the canteen?
Even though the precedence was for chocolate hob nobs!!! Shocking behaviour by the capitalist pigs
I have no problem with their working week, as long as they are paid accordingly.
My question is whether the existing employees, who are on defined contribution pensions, are funding the defined benefit pensions of their retired colleagues.
Defined Benefit pension issues predomianntly arose (afaik) from the bank making no contributions during several boom years as the assets were valued so high versus liabilities, hence the c. €1.5bn defeciti a few years ago.
DB plan has had a few hatchet jobs to it so the people who joined in later years will not receive the same benefits as those who were close to retirement.
Haven't been around the detail enough recently to see who is funding it now though.
DB plan has had a few hatchet jobs to it so the people who joined in later years will not receive the same benefits as those who were close to retirement.
Haven't been around the detail enough recently to see who is funding it now though.
SOME employees have those conditions and they are all of a certain age! I have worked in three Irish banks and no-one I worked with had those conditions.
I worked in a Department where everyone from the manager to the junior enjoyed these conditions.
My wife worked in 5 Dublin central branches & indeed still works centrally & has always enjoyed these conditions .
There are certainly locations , particularly some Departments , where the vast preponderance of staff are on pay for performance , bonus related contracts where coffee breaks were traditionally considered as being for wusses - times are however changing as such people are becoming increasing demoralised as bonuses are by & large a thing of the past & they are forced to make do with the relatively low base salary ( when compared to the more traditional Union negotiated contracts ) - coffee drinking is apparently on the increase.
It should be noted that when BOI refurbished the old head office in the early 2000's they put in a coffee area on every floor on the basis that staff interaction was not only good for morale but encouraged cross reference ,productivity & an exchange of ideas & knowledge as well as general chit chat.
The "balanced scorecard" as a measure of performance managment was proposed by Kaplan and Norton in the late '80's and early 90's. It was very popular with American Multinationals in the nineties.
It would be interesting to see how a section of the public service are using it.
It would be interesting to see how a section of the public service are using it.
I agree with this. It’s good to talk and meet the people you are working with. This is especially true in a larger organisation.
I work in a small business (around 100 people) and people can make tea or coffee whenever they want and bring it to where they work. There is a 15 minute paid break in the morning and 30 minutes for lunch which is unpaid. I find it strange that any employer would charge for tea or coffee.
The issue here is what was implemented and how it was implemented. Who gets to drink tea when is of no consequence.
Seems to be standard practice these days - pull up the draw-bridge to protect the incumbents. Actually, I would be delighted if the same happened across the PS, at least this way the future liability of pensions would be "defined"
. I'm surprised that the unions aren't calling for this either...have you seen the national debt figure recently?I agree with that. BoI was regarded as the sleepier of the 2 main banks, but like anyone who arrives late to a wedding with a free bar, they consumed far too much in the late hours.
I take your word for it - well before my time
Seems to be standard practice these days - pull up the draw-bridge to protect the incumbents. Actually, I would be delighted if the same happened across the PS, at least this way the future liability of pensions would be "defined"
Single Public Service Pension Scheme
The new Single Public Service Pension Scheme (“Single Scheme”) commenced with effect from 1 January 2013.
All new entrants to pensionable public service employment on or after 1 January 2013 are, in general, members of the Single Scheme.
http://www.per.gov.ie/single-scheme-brief-overview/
Hi Becky,
It's an improvement (for the taxpayer) but it's still a defined benefit scheme that leaves us open to further strains in the future. A defined contribution model would be far better IMO.
98bn just for pensions. Blood from a stone methinks..
http://www.rte.ie/news/2014/0403/606429-state-pensions
http://www.rte.ie/news/2014/0403/606429-state-pensions
That's like telling someone who can't swim that they are going to be thrown into 15 feet of water rather than 20 feet of water.