Dáil Éireann Debate, Wednesday - 9 April 2014
126. Deputy Brendan Smith asked the Minister for Justice and Equality if a Garda, who has reached the age of 50 years, is eligible to retire on a full pension even though they do not have full 30 years service, some nine months short of 30 years, by purchasing out the outstanding service or if there is any other option available; and if he will make a statement on the matter. [16833/14]
View answerI have been informed by the Garda Commissioner that there is no facility for members to purchase any shortfall of service where they have reached the age of 50 and do not have 30 years service.
In April, 2005 the Minister for Finance announced the introduction of cost neutral early retirement for the public service. The scheme allows public servants to retire early with immediate payment of superannuation benefits, subject to an actuarial reduction to take account of the early payment of the gratuity and the longer period over which the pension would be paid.
The scheme is available to members who were serving on or after 1 April, 2004. To be eligible to apply for cost neutral early retirement, a member must have an entitlement to a preserved superannuation benefit at age 60 and be aged at least 50 at the time of retirement.
Members who meet the above criteria have the option of waiting until age 60 and receive a preserved pension and lump sum in the normal way, or applying for immediate payment of preserved pension and lump sum, both of which will be actuarially reduced.
