New public-sector pension structure 'fairer': Howlin
Minister for Public Expenditure and Reform Brendan Howlin has published details of a new bill to transform the public sector pension system.
The new structure means all new entrants to the sector will be part of a new single pension scheme, which will calculate pension entitlements based on the worker's average salary over his or her whole career. Under the current system, pensions are based on final salary at retirement.
Minister Howlin said it was a fairer approach that would significantly reduce costs to the taxpayer.
