Bank of Ireland is facing industrial action from its workers after it refused to defer implementation of pension proposals for new staff pending negotiations at the Labour Court and National Implementation Body.
The Irish Bank Officials Association (IBOA) will begin balloting its members in the next few weeks after the bank decided to close its defined benefit scheme to new employees. Existing employees will retain their pension scheme.
The bank is also facing a new pay claim from the IBOA to compensate new staff for the reduced pensions, and to bring its staff in line with salaries at AIB.
"Following a series of meetings throughout the country, members have demanded action to respond to Bank of Ireland introducing drastic changes to staff pensions that will leave new staff with a far worse pension than that of current staff," IBOA general secretary Larry Broderick said.
"The breathtaking arrogance of the bank in contemptuously proceeding with their plans without allowing the industrial relations institutions of the State to complete their deliberations is astounding and illustrates the contempt the bank has for its staff, current agreements and the very institutions established by Government to promote industrial peace," he said.
In response, the Bank of Ireland said it was "disappointed" at the IBOA's decision to ballot employees it claimed were unaffected by the change.
It described the ballot as "completely unnecessary based on the facts about Bank of Ireland pension arrangements" and claimed that the new scheme is in the best interests of all employees.
"New employees have a very attractive pension prospect at retirement ahead of the market and of competitors," the bank said in a statement.
