Terry Brennan (Fine Gael) | Oireachtas source

The ESB pensions are fully funded until 2018, according to the Pensions Board. I recall that a couple of hundred million euro was injected into the fund less than two years ago but a funding plan must be agreed in order to bring it back to financial health. As we all know many pension funds are in trouble at this time. Nobody in the ESB pension is under threat, no jobs are under threat and no pay cuts are required. Meetings are due to take place between management and unions this week and next week and I hope that this unnecessary action will not go ahead. I hate to think of the impact a strike would have on businesses, schools and primary health care centres. The strike is and should be of great concern to us all in the House. It is an unreasonable threat and I want both sides to step back from the brink and ensure that we have no cutbacks and that no strike action takes place this Christmas or in the years ahead. Both sides must reach agreement and I hope that talks will be successful. Go raibh maith agat.