It is a component of the compensation agreements reached in April with the Communications Workers' Union (CWU).

The Minister for Communications and the Minister for Public Expenditure and Reform have to approve pension increases in accordance with the provisions of the respective pension plans of A Post and Eir. Now, that consent has been given.

Beginning on January 1, 2024, A Post retirees will receive a 2% rise in their pensionable income.

A Post has announced plans to settle arrears and raise pensions on November 22, 2024. Pensions for eir retirees will increase by 2.5 percent starting of July 1, 2024. An estimated 11,000 retired employees of EIR and 7,000 employees of A Post will be impacted by these pension increases.

According to CWU General Secretary Seán McDonagh, "approval of pension increases under the current agreements has been expedited following representations made by the CWU to Ministers."

"We are pressing both companies and our Trustees to ensure all increases and arrears are now paid to pensioners without delay," stated McDonagh.

"We will be seeking to secure additional increases to pensionable pay for workers and to have these applied to pensioners at both An Post and eir in 2025," he stated.

An Post's April announcement of a two-year compensation agreement called for an 8% salary rise that would be paid in three installments. The contract will expire on December 31, 2025.

The Workplace Relations Commission (WRC) helped to negotiate the pay deal at eir.

It called for a base salary raise of 11% for workers making up to €50,000 over 33 months starting on July 1, 2024, and 10% for workers making up to €70,000.