Record numbers of teachers taking early retirement
Record numbers of Irish schoolteachers are reportedly retiring early, leading to a large jump in the amount of money needed to fund their pensions.
Reports this morning say the Department of Education has been caught by surprise due to the high numbers, with 1,340 teachers expected to retire this year.
Their pension payments will reportedly take up an extra €64m of the department's budget.
This morning's reports say pensions are now being paid to around 17,500 retired teachers, compared to just 12,000 seven years ago.
