The ESB deal has been described as an agreement to resolve problems at the company as they have always been resolved through negotiation.
Martin Frawley is an industrial affairs journalist. He says there is no real difficulty at ESB, and what stakeholders have told the LRC they will do is simply keep talking if there are difficulties in the future.
“Most of the pensions schemes in the country are in deficit, and it’s kind of a theoretical deficit – the ESB of all schemes is quite healthy, actually” he said.
“Both parties are working through the deficit; they’ve got it down from about 1.9 billion about five years ago – it’s now at about 1.6 billion” he added.