asked the Minister for Education if he will state the cost to the Exchequer if the State assumed liability for the retrospective payments to be made by members of the Secondary Teachers' Superannuation (Amendment) Scheme, 1951, for retirement gratuities, assuming that all serving eligible teachers are members.
Ceisteanna—Questions. Oral Answers. - Secondary Teachers—Retirement Gratuities.
Assuming that all serving eligible teachers were to become members of the pension scheme and that the State were to undertake liability for the retrospective payments to be made under the terms of the Superannuation (Amendment) Scheme, 1951, for retirement gratuities, the ultimate cost to the Exchequer would be about £195,000.
Is that the total cost or the annual cost?
The Deputy asked what would be the cost to the Exchequer if the State assumed liability for the retrospective payments. It would be a lump sum of £195,000. That would be the accumulated sum.