Dáil debates
Wednesday, 11 July 2012
Public Service Pensions (Single Scheme and Other Provisions) Bill 2011: Report Stage
1:00 pm
Seán Fleming (Laois-Offaly, Fianna Fail)
I wish to speak specifically on one point I did not make. We understand the formula referred to in the appendix states at present pension rates are based on the residual part of final pay after subtracting twice the rate of the contributory State pension. This ensures a minimum floor for low-paid public sector workers. A person who never worked in the public sector and who has a spouse would have twice the contributory State pension, and we want to avoid people working and coming out with little more than the pension they would have otherwise had. According to the arrangement they will get 20% of their final salary regardless up to a certain figure, and we will not get into the nitty-gritty of this.
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