Main points of the new pay deal:
- Most workers to receive 5.5 per cent increase over 18 months.
- Increase to be paid in three phases of 1.5 per cent, 1.5 per cent and 2.5 per cent.
- Additional ½ per cent rise for those earning €351 per week or less, or up to €9 an hour.
- Ceiling on redundancy pay to be increased from €507 to 600 per week.
- Maternity benefit to be restored to 80 per cent of earnings, up from 70 per cent.
- Minimum wage of 7 an hour to be reviewed by the Labour Court, with a view to new rate applying from May 1st of 2005.
- Benchmarking body to commence new review in the second half of next year and to report in 2007.