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Pension Provisions.

Dáil Éireann Debate, Tuesday - 9 November 2004

Tuesday, 9 November 2004

Ceisteanna (139)

Richard Bruton

Ceist:

196 Mr. R. Bruton asked the Minister for Finance if he has plans to introduce early retirement schemes in the context of decentralisation or otherwise; and if he will make a statement on the matter. [28045/04]

Amharc ar fhreagra

Freagraí scríofa

As the Deputy may be aware the Government decided in September 2004, to implement a number of further key recommendations of the Commission on Public Service Pensions. These included a cost neutral early retirement facility which will allow public servants to retire early with actuarially reduced superannuation benefits.

Under this arrangement, workers whose current minimum pension age is 60 years will be able to avail of the facility from age 50 years and upwards. Those whose minimum pension age is 65 years will be eligible from age 55 years and upwards. The facility is being made available to serving staff and the option will be extended to staff who resigned on or after 1 April 2004, with an entitlement to preserved superannuation benefits. Superannuation benefits in such cases will be based on pensionable service at the time of resignation reduced, on an actuarial basis, to take account of early payment.

Implementation of this and the other changes announced in September 2004 will commence as soon as detailed guidelines have been prepared and circulated by my Department. My officials are completing work on this aspect, at present. From time to time, early retirement schemes form part of broader policy measures aimed at achieving improvements in efficiency and effectiveness in areas of the public service or in specific public service bodies. However, no such proposals are under consideration at this time.

With reference to the decentralisation programme as announced in the budget for 2004, the programme will be implemented on a voluntary basis. There will be no redundancies, nor is any scheme of early retirement envisaged as part of the programme. As on previous occasions, the payment of removal or relocation expenses will not arise.

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