Bus Éireann Company News
Voluntary Severance Terms: Clerical Staff
1 December 2009: Yesterday your union meet with Bus Éireann to go through proposals around the cost recovery plan and the details of the voluntary severance. Below are the voluntary severance terms that were presented to your union from Bus Éireann.
Staff aged 55 and over, who qualify for a pension
Ex Gratia lump sum amounting to one third (1/3) of annual salary for each remaining year of service (or part amount) subject to a maximum of five thirds (5/3) of annual salary.
Annuity
One eightieth (1/80) for retiring salary for each year of service subject to a maximum of forty eightieths (40/80).
Capital sumThree eightieths (3/80) of retiring salary for each year of service subject to a maximum of one hundred and twenty eightieths (120/80).
For staff that have less than the maximum 40 years, no supplements will be paid to the annuity and capital sum.
Discounts will be applied to the annuity and capital sum of staff who retire between age 55 and 60.
Permanent Staff under the age of 55 and eligible to receive a pension
(preserved benefit payable at age 60)
Statutory redundancy entitlement plus 2.5 weeks average pay per year of service plus pension entitlements.
The lump sum payment will be subject to the following 3 limits:
(a) Lump sum may not exceed two times the annual earnings less 30% of statutory lump sum
(b) Lump sum may not exceed 66% of possible earnings to date of retirement
(c) Where statutory lump sum is equal to or greater then 66% of earnings to date of retirement then statutory only will be paid
orA lump sum of 48,000 Euro (minimum)
You should have received a copy of the Bus Éireann cost recovery plan. It is crucial that you go through the document and bring any issues to the attention of your local TSSA Reps in time for the next scheduled meeting between the TSSA and Bus Éireann on 16th December 2009.
Jim Kavanagh: Irish OrganiserRegistered Office: Nerney's Court, Off Temple Street, Dublin 1
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