Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context

Question 81: To ask the Minister for Finance his plans to introduce the public service pensions (single scheme) Bill and the pension arrangements that currently apply for new entrants into the public service. [14110/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

It is planned to introduce a new single pension scheme for all new entrants to the public service. The scheme will link pension age to the social welfare pension age, while entitlements will be based on average career earnings and will be linked to consumer price inflation. The scheme will considerably and credibly strengthen our public finances over the long term. It is intended to publish the necessary legislation, the Public Service Pensions (Single Scheme) Bill, in the current Dáil session, with a view to having the scheme legislated for by the end of the third quarter this year. At present, before approval of the legislation by the Oireachtas and the introduction of the new single scheme, new entrants to the public service become members of the existing pension schemes and will retain that membership during the course of their employment.