Written answers
Thursday, 8 July 2010
Department of Transport
Pension Provisions
10:00 pm
Terence Flanagan (Dublin North East, Fine Gael)
Link to this: Individually | In context
Question 351: To ask the Minister for Transport if he will support the following matter (details supplied); and if he will make a statement on the matter. [31753/10]
Noel Dempsey (Meath West, Fianna Fail)
Link to this: Individually | In context
One Secretary General and three Assistant Secretaries in my Department have retired in the past five years.
The superannuation benefits accruing to each individual upon retirement are linked to the length of service and rate of final pensionable remuneration. The maximum number of years service which may be reckonable is 40 years. Lump sum benefits accrue at the rate of 3/80ths of pensionable remuneration for each year of service. In the case of a Secretary General whose fixed term of office expires before the standard retirement age, an additional severance gratuity of one half of annual pensionable remuneration is payable.
The total net lump sums paid in these four cases is €924,556.70.
No comments