Ill Health Retirement - Enhancement of Benefits in cases of Ill Health Retirement under the Single Scheme.

This Guidance Note confirms how retirement benefits are to be calculated if a member of the Single Scheme is retired/discharged on medical grounds.

Death in Service Payments and related Survivor’s and Children’s Pension issues under the Single Scheme.

This Circular confirms how death benefit entitlements are to be calculated and paid for serving and former (vested) members of the Single Scheme.

Cost Neutral Early Retirement under the Single Scheme.

This Circular confirms how early retirement benefits are to be calculated on a cost-neutral basis for members aged at least 55 years of age availing of voluntary early retirement under the Single Scheme.  It specifies the actuarial reduction factors to be applied to a member benefits with reference a member’s normal retirement age (66, 67 or 68 years of age) and the date of their actual early retirement.

Extension to the 'Grace Period' for Retirements and Changes to PSPR 

Grace Period for Retirements

The 'Grace Period' for retirements has been extended from 30th June 2016 to 1st April 2019 as per  S.I. 547/2015 under the terms of the Financial Measures in the Public Interest Act 2013.

Staff retiring on or before 1st April 2019 will have their pension benefits calculated with reference to the pay scales applying on 30th June 2013.  

Public Sector Pension Reduction (PSPR)

The Financial Emergency Measures in the Public Interest Act 2015  has introduced changes to the Public Service Pension Reduction with effect from 1st January 2016. 

The PSPR changes will take effect in three stages, on 1st January 2016, 1st January 2017 and 1st January 2018. Further details in relation to the PSPR changes are outlined in Circular Letter 18/2015.

Any queries in relation to the above can be emailed to pensions@dit.ie

Pensions Section 

9th December 2015

Pension Arrangements for part time staff members

Circular Letter 0062/2014 was issued by The Department of Education and Skills on 1st September 2014. This circular amends Circular Letter 0025/2008 and provides for revised timelines for payment of contributions due and revised timelines for making a pension option for certain part time staff. The Pensions Section will be contacting affected staff members with their pension options in 2014/2015. Further information on the pension arrangements for part time staff members is available on our website at the following link

Full details Circular Letters CL0062/2014 and CL0025/2008 are below. 

Circular Letter 0062/2014 - Pension Arrangements for Part time Staff

Circular Letter 0025/2008 - Public Service Pension Reform Revised arrangements

Pensions Section 

25th September 2014

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Budget 2014 - Taxation of Pensions & Changes to the Standard Funding Threshold

The following notice outlines the changes made to the Standard Funding Threshold in Budget 2014 and the implications for members of the Institute's pension schemes.

Notice - Standard Funding Threshold & Budget 2014

DPER Circular 27.06.2014 - Standard Funding Threshold Budget 2014

Pensions Section

26th August 2014

 

Public Service Pensions (Single Scheme & Other Provisions) Act 2012

The Public Servive Pensions (Single Scheme & Other Provisions) Act 2012 was enacted in July 2012. Several of the provisions of the Act require the making of a commencement order before they can be enacted. One such order was made with effect from 1st November 2012. This Act provides for a new single public service pension scheme (yet to come into force) and also makes several changes to pre existing public service pension scheme. Details on these changes have been circulated in two notices issued in August & November 2012. Copies of these notices are available at:

Notice - August 2012: Introduction of the Public Service Pensions (Single Scheme & Other Provisions) Act 2012

Notice - November 2012: Commencement of Chapter 4 of 2012 Act

Pensions Section

November 2012

Older Notices:

  • Update on Pension Related Levy (March 2009)

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