Retirement grace period extended

IMPACT has welcomed a Government decision to extend the retirement grace period, set out in the Haddington Road agreement, until 30th June 2015.

This means that public servants who retire before then will have their pensions based on their pay and incremental status at 30th June 2013 – the day before temporary pay reductions were introduced for staff earning over €65,000, along with increment deferrals for many others.

IMPACT and other unions have been pressing for the extension of the grace period – initially set at August 2014 – ever since the Haddington Road deal came into force.

Unless there is a further extension, public servants who retire after June 2015 will have their pension calculations based on their salary and incremental position at the time of retirement.