Oireachtas Joint and Select Committees
Wednesday, 21 September 2016
Public Accounts Committee
Special Report No. 91 of the Comptroller and Auditor General: Management of Severance Payments in Public Sector Bodies
1:30 pm
Mr. Seamus McCarthy:
It was not a question of purchase of years. It was a question of what the person had already accrued in terms of pension entitlement. Added benefits were given which meant that the person went on their pension earlier and started to receive their pension earlier than otherwise would have been the case. It was also a question of the value of the pension. It is not the case that someone was written a cheque for €1.19 million. The person started to receive their pension. The value of that pension over the years in which the person will draw it is €1.19 million. I am sorry but I wanted to make that clarification.
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