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Grace Period for Retirements

Overview

The Financial Emergency Measures in the Public Interest Acts introduced pay cuts effective from 1 July 2013 for employees whose salaries (plus pensionable allowances if applicable) were greater than €65,000 p.a. A new rate of PSPR (public Sector pension reduction) was also introduced for pensions coming into payment after 01/03/2012, which were €32,500 p.a. or above.

The Acts allowed staff to retire on or before 1 April 2019, and to have their pension calculated on the pay rate in force prior to 1 July 2013 i.e. their pre-cut pay.

All salaries have now been fully restored to their 30 June 2013 level or above and pensions will be calculated based on your final rate of pensionable pay in force at your retirement date, subject to Scheme rules.

If you wish to obtain an estimate of your pension please visit your ESS pension record where you can run figures using your  online pensions calculator.

Note: The ESS pension record is not available to employees who joined the public sector on or after 1 January 2013. Instead such employees can visit the Pension Estimator Tool on https://singlepensionscheme.gov.ie/wp-content/uploads/2018/07/Single-Scheme-Member-Estimator-Tool.xlsm

 

 

 

 

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