Pension changes confined to new entrants
Wednesday 26th October 2011
The Department of Public Expenditure and Reform has confirmed that there has been no decision to change pension arrangements for current public servants. The department was responding to a letter from ICTU’s Public Services Committee, which was prompted by a clause in new legislation that makes it possible for a minister to change the current link between public service pay and pensions at some time in the future. Read more HERE.
Minister warns on retirement notice
Monday 3rd October 2011
Public expenditure and reform minister Brendan Howlin has given a clear warning that public servants who want to retire with pensions based on pre-pay cut salary rates should give three months notice of their intention to leave before the 29th February 2012 deadline. Read more HERE.
Retirement deadline: Should I stay or should I go?
Monday 3rd October 2011
Many IMPACT members are considering their options as the deadline for retiring with a pension based on pre-pay cut salary scales looms. Read more HERE.
Lower paid largely shielded from pension changes
Monday 3rd October 2011
A new, less favourable, pension scheme for new entrants to the public service will mostly impact on those earning over €45,000 a year throughout their careers. The change will see new entrant’s pensions calculated on the basis of career average earnings instead of earnings at the time of retirement. Read more HERE.
Members consider retirement options
Thursday 8th September 2011
THE VALUE of public service pensions is set to fall from the end of next February in line with pay cuts introduced in 2010. With 29th February 2012 the last date on which eligible staff can retire with pension benefits calculated on the basis of pre-2010 pay scales, many IMPACT members are now considering their options. Read more HERE.
Retirement notice period extended to three months
Wednesday 20th July 2011
Local authorities and civil service staff who intend to retire before the end of February 2012 must now give three months notice of their intention to retire or face delays in the payment of their pensions. February 29th 2012 is the last date on which eligible staff can retire with pension benefits calculated on the basis of pre-2010 pay scales. Read the circular HERE.
Pensions breathing space
Friday 12th November 2010
In a significant move that removes immediate pressures from funded pension schemes that are in deficit, the Pensions Board has agreed to extend the timeframe for the submission of funding proposals to the Board for its approval. The Board will announce shortly the new extended timeframe for such proposals. more
Public Service Pensions (Single Scheme): General Outline of Features
Monday 4th October 2010
Read more HERE.
National Pensions Framework Implementation Forum
Wednesday 4th August 2010
Independent think-tank, TASC has urged the government to reconsider its decision to use the pension industry to deliver the new supplementary pension scheme. While TASC welcomes some elements of the National Pensions Framework, it says that much work still needs to be done to ensure that workers could look forward to a secure income in retirement. The comments were made at a presentation in July by TASC to the National Pensions Framework Implementation Forum. more
Are public service pensions sustainable?
Article in Irish Times, 8th December 2008 By Shay Cody, Deputy General Secretary, IMPACT trade union. more
Update on Commission on Public Service Pensions: 2nd September 2008
A draft memorandum for Government on ‘List B’ issues set out in the May 2004 report of the Joint Working Party set up to consider the recommendations of the Commission on Public Service Pensions will recommend against a concession on union calls for refunds of pension contributions to staff with more than 40 years’ service. The memorandum, which also covers the subsequent report of the working party on spouses and children’s pensions and the ‘step down’ facility, is expected to go to Government this month after other departments have made observations in the usual way. more
New way of reckoning pensionable allowances
There’s been a significant change in the reckoning of variable pensionable allowances in the public service. more
IMPACT attacks employers on pensions
IMPACT trade union has launched a scathing attack on employers for seeking to pass all pension costs onto workers and taxpayers. Speaking at the union’s biennial delegate conference in Kilkenny on 16th May, IMPACT deputy general secretary Shay Cody said business leaders jealously guarded their own “generous pension packages” but wanted to “level down” pensions for everyone else. more
