There is currently no targeted redundancy scheme available to staff in my Department. In the period up to 31st August 2014 seven staff in my Department will reach the retirement age of 65 years.
Under section 9(2)(a) of the Financial Emergency Measures in the Public Interest Act 2013, staff in my Department who retire by end August 2014 and whose pay has been reduced due to the 1st July 2013 pay cuts, will have their pension and lump sum calculated by reference to the pay rates in force before the pay cuts of 1 July 2013 were implemented. This cohort of retirees will, however, be subject to the new Public Service Pension Reduction on their pensions with effect from 1 July 2013, where those pensions exceed €32,500.