Public sector pension costs forecast to more than double by 2040

Posted in Governance and administration on July 22nd, 2018 by steve

“The cost of public service pensions will rise sharply in the coming years, increasing by €2 billion by 2025, while the level of pension contribution from public servants will remain steady. An analysis by the Department of Public Expenditure has found that the cost of public sector pensions to the exchequer will rise from €3.4 billion last year to €5.3 billion by 2025 …” (more)

[Pat Leahy, Irish Times, 19 July]

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Cabinet agrees bill to allow public servants to work until 70

Posted in Governance and administration on July 6th, 2018 by steve

Ireland“The Government has agreed the text of new legislation that will allow thousands of public servants work until they are 70 years of age. As people are living longer and are in better health, many public servants want to work for longer, but they cannot because of a mandatory retirement age of 65 for those recruited before 2004 …” (more)

[Conor McMorrow, RTÉ, 5 July]

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Public Sector Pensions

Posted in Governance and administration on February 28th, 2018 by steve

IrelandJack Chambers (Dublin West, Fianna Fail): To ask the Minister for Public Expenditure and Reform the status of and timeframe for the restoration of pensions for retired civil and public servants whose pensions are tied to serving officers pay (details supplied); and if he will make a statement on the matter …” (more)

[Dáil written answers, 27 February]

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The State’s public service pension liability currently stands at €114.5 billion

Posted in Governance and administration on December 19th, 2017 by steve

Ireland“The State’s accrued liability for 298,000 serving public servants, and 155,000 who have already retired, currently stands are €114.5 billion. The figure, released in the Department of Public Expenditure’s latest actuarial review of its pension liabilities in respect of public service workers, represents the current value of all future payments to both former and current staff …” (more)

[TheJournal.ie, 19 December]

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Public service compulsory retirement age set to rise to 70

Posted in Governance and administration on December 6th, 2017 by steve

Ireland“The Cabinet has agreed legislation should go forward to increase the compulsory retirement age in the public service from 65 to 70 over a phased period. Minister for Finance, Public Expenditure and Reform Paschal Donohoe said the changes will enable the service to generate new roles and posts, while retaining a lot of the experience of those already in the public service …” (more)

[RTÉ News, 6 December]

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Public servants escape new pension rules

Posted in Governance and administration, Legal issues on November 13th, 2017 by steve

Ireland“Public servants are escaping new pension rules that delay the payment of the State pension. The State contributory pension is now only paid from the age of 66, meaning that thousands of people who are compelled to leave work at the age of 65 have to claim Jobseekers’ Benefit – getting almost €50 a week less than they would from their pension …” (more)

[Independent, 13 November]

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Unravelling of pensions emergency financial legislation will cost €90 million next year

Posted in Governance and administration on November 10th, 2017 by steve

Ireland“The restoration of public service pensions will cost €90 million next year with the unravelling of emergency legislation implemented during the economic crash, according to the Minister for Public Expenditure and Reform. Paschal Donohoe told the Dáil that from January 1st next year …” (more)

[Marie O’Halloran, Irish Times, 10 November]

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Public Service Pay and Pensions Bill 2017 is published

Posted in Governance and administration, Legal issues on November 9th, 2017 by steve

Ireland“The pay of TDs and most other public servants will return to pre-austerity levels by July 2021 under new legislation which has been published. The Public Service Pay and Pensions Bill 2017 underpins the restoration of financial emergency (FEMPI) pay cuts imposed during the economic crisis …” (more)

[RTÉ News, 9 November]

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All public servants will now work until they’re 66 years old

Posted in Governance and administration on November 3rd, 2017 by steve

Ireland“Tens of thousands of public service workers will spend an additional year in the workforce as plans are being advanced to increase the retirement age by one year to 66, the Irish Independent understands. The Government is actively researching the impact of such a move on the public-sector workforce …” (more)

[Kevin Doyle, Independent, 3 November]

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Public servants asked to pay more for pensions as Government pledges pay cuts will be refunded

Posted in Governance and administration on May 30th, 2017 by steve

Ireland“The government has asked public servants to pay more for their pensions but will refund pay cuts imposed under emergency legislation in a new deal. Sources at talks on a deal to extend the Lansdowne Road Agreement said government officials said they would convert a €720m pension levy already being paid into a higher permanent contribution …” (more)

[Anne-Marie Walsh, Independent, 29 May]

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Pay body is ‘ignoring reality’ in assessment of the pensions gap

Posted in Governance and administration on May 16th, 2017 by steve

Ireland“Expenditure Minister Paschal Donohoe has insisted that the gaping difference between public and private sector pension provisions will be on the table at new talks, despite a report advising it stands at just 14%. The commission advising the Government on its pay policy has been accused of ignoring the ‘elephant in the room’ in its calculations – because most private sector workers have no pensions at all …” (more)

[Anne-Marie Walsh and Kevin Doyle, Independent, 16 May]

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UCC bought private college without liability for pensions

Posted in Governance and administration on May 10th, 2017 by steve

Ireland“University College Cork acquired a private business college without picking up the tab for its pension scheme, which previously had a deficit of more than €10m. The takeover of the Irish Management Institute (IMI), in Dublin, late last year, has raised concerns within UCC, and senior management were quizzed on it by the Dáil Public Accounts Committee (PAC) in late March …” (more)

[Niall Murray, Irish Examiner, 10 May]

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Public sector pay talks to focus on pension levy

Posted in Governance and administration on May 10th, 2017 by steve

Ireland“Talks on a new public service pay agreement, due to begin in the coming weeks, will see the Government trade pay increases for additional pension contributions amongst thousands of middle-income public service workers. However, a key battleground in the talks is likely to centre on the income threshold above which any new higher pension contribution will apply …” (more)

[Martin Wall, Irish Times, 10 May]

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€100,000 pensions raid on public servants

Posted in Governance and administration on May 2nd, 2017 by steve

Ireland“Public servants will take a huge hit from widescale reform of their pensions, calculations show. Changing the way pensions are calculated could see even modestly paid public servants losing up to €100,000 over the course of their retirement …” (more)

[Charlie Weston, Independent, 2 May]

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Public sector pay report to back keeping pension levy

Posted in Governance and administration on April 27th, 2017 by steve

Ireland“A new pay commission is set to advise the Government to keep in place a pension levy that was imposed on public servants during the financial crisis. In its first report, the Public Service Pay Commission is expected to support the Government position that most of its 300,000 employees make a bigger contribution towards their retirement benefits …” (more)

[Anne-Marie Walsh, Independent, 27 April]

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Public Sector Pensions Legislation

Posted in Governance and administration on March 2nd, 2017 by steve

IrelandMichael Collins (Cork South West, Independent): To ask the Minister for Public Expenditure and Reform if he will restore public service pensions fully by mid-2018; and if he will make a statement on the matter …” (more)

[Dáil written answers, 28 February]

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Public Sector Pensions Levy

Posted in Governance and administration on February 17th, 2017 by steve

IrelandÉamon Ó Cuív (Galway West, Fianna Fail): To ask the Minister for Public Expenditure and Reform the reason public servants in receipt of a public service pension have the pension levy deducted from their pensions; the rate at which it is deducted; his plans to reduce the pension levy in the coming years; and if he will make a statement on the matter …” (more)

[Dáil written answers, 15 February]

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Public Sector Pensions Legislation – Repeal of FEMPI

Posted in Governance and administration on January 26th, 2017 by steve

IrelandBrendan Griffin (Kerry, Fine Gael): To ask the Minister for Public Expenditure and Reform the timeframe for the repeal of FEMPI legislation in respect of retired public servants; and if he will make a statement on the matter …” (more)

[Dáil written answers, 24 January]

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Pension rises for retired public sector workers now in firing line

Posted in Governance and administration on December 27th, 2016 by steve

Ireland“An end to pension increases for retired public-sector workers is on the table in the next round of pay talks. Public-service pensioners have traditionally benefited from pay parity, which means they go up when there is an increase in the salary of the person in their old job …” (more)

[Anne-Marie Walsh and Kevin Doyle, Independent, 27 December]

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Unions to resist greater contribution by public staff to pensions

Posted in Governance and administration on December 19th, 2016 by steve

Ireland“The plans by the Department of Public Expenditure to seek a greater contribution from public servants towards the cost of their pensions will be fiercely resisted by unions who represent the 320,000 who work in the public sector …” (more)

[Pat Leahy, Irish Times, 19 December]

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