Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

There are historical reasons for that, it has been going on for some years.

Numbers are difficult. Some people retired in anticipation of budgetary decisions that might have affected their pension had they retired at a lesser stage. Under the financial framework in place, there is a 14 month leeway period before anyone will be impacted. In 2008 there were 276 retirements on pension, 425 in 2009, 427 in 2010, 498 in 2011, the period immediately after the 2010 budget, and in 2012 there were 597 retirements. That was a high figure and gives an insight into why only 60 people have retired so far this year. Some individuals who may have been due to retire in 2013 could have had some concerns because of constant speculation about the budget in 2012. Those people might have decided to retire because of that.

My view, and I may be proved wrong by the end of the year, is that is why there was a spike last year and a reduced number this year. People often make decisions in the second half of the year. That is why September and October will give us a better insight.