Dáil Éireann Debate, Tuesday - 28 May 2024
175. Deputy John Lahart asked the Minister for Public Expenditure, National Development Plan Delivery and Reform his plans in response to queries from persons who are concerned that there will be a break in the parity between retired civil and public servants and existing civil servants when it comes to retiring; and if he will make a statement on the matter. [23796/24]
Amharc ar fhreagraAs Minister for Public Expenditure, NDP Delivery and Reform, I have overarching responsibility for public service pension policy, including in relation to pension increases in the civil and public service. Section 29(2) of the Pension Increase Act 1964 provides that the Minister for Public Expenditure, NDP Delivery and Reform (previously the Minister for Finance) may make regulations to provide for increases in public and civil service pensions in payment. Such increases are awarded at the discretion of the Minister.
As per Circular 04/2024, it has been agreed that post-retirement pension adjustment for retirees of pre-existing (pre-2013) public service pension schemes will be based on the principle of pay parity for the duration of the Public Service Agreement 2024-2026. Under the policy of pay parity, general round pay increases are passed on to pensions awarded under pre-existing public service schemes. Where applicable, salary increases awarded to serving public servants will be reflected in the pensions of those persons who have retired on an equivalent grade and pay scale point. Pensions in payment under the Single Public Service Pension Scheme are adjusted in line with increases in the Consumer Price Index (CPI), as provided for under Article 40 of the Public Service Pensions (Single Scheme and Other Provisions) Act 2012.
