1 / 13

Public Service Pensions in Ireland Presentation by Des O’Leary Department of Finance (Ireland)

Public Service Pensions in Ireland Presentation by Des O’Leary Department of Finance (Ireland) “Social Rights and Pensions for Civil Servants in some EU Member States” Vilnius, 9 November 2006. Public Service Schemes Origins. 19 th Century

harlan-duncan
Download Presentation

Public Service Pensions in Ireland Presentation by Des O’Leary Department of Finance (Ireland)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Public Service Pensions in Ireland Presentation by Des O’Leary Department of Finance (Ireland) “Social Rights and Pensions for Civil Servantsin some EU Member States”Vilnius, 9 November 2006

  2. Public Service SchemesOrigins • 19th Century • 1834 -1919 Superannuation Acts still provide basis • Legislation and industrial relations agreements since the foundation of the State

  3. Structures • No single all embracing Scheme • Each Sector has its own Scheme –Enabled by legislation • Dept of Finance – overall responsibility – exercised through • Policy • Approval of individual schemes and changes - Model Scheme template • Funding

  4. Three Strands • Exchequer funded (Direct) • Health, Education, Civil Service, Security, Non Commercial State Bodies • Local Authorities (Local Gov Fund) • Commercial State Bodies (Funded Schemes)

  5. Funding • “Pay as you Go” basis – Voted • Exchequer • Exchequer via Local Government Fund • National Pension Reserve Fund • “Funded” Schemes • Commercial State Bodies

  6. Annual Costs(2006) • Exchequer funded €1.58bn • Local Authorities € 0.42bn • Total Estimate € 2.0bn

  7. (IV) 2006 Exchequer Pay & Pensions Bill Expenditure by Sector Security 11% Civil Service Health 13% 41% Education Non-Comm. State 32% Bodies 3% Health Non-Comm. State Bodies Education Civil Service Security Pay and Pensions(Exchequer Funded)

  8. Public service Numbers

  9. (XI) Sectoral Breakdown of Exchequer Funded Public Service Numbers 2006 Non-Comm. State Bodies, 4.42% Security, 9.61% Health, 39.49% Civil Service, 14.47% Education, 32.00% Health Education Civil Service Security Non-Comm. State Bodies Overview

  10. Model Scheme • Defined Benefit Scheme • Ancillary Benefits • Integrated with Social Insurance (1995) • Standard Accrual Generally • Minimum & Maximum Retirement Date • Remuneration and Service Calculations • Pro Rata • Integration • Parity with Pay • Ability to purchase & transfer Service • Abatement

  11. How Change is managed and effected • Policy Review • Partnership Process • Conciliation and Arbitration Process • Legislation and Administrative Authority

  12. Recent Developments • Pension Commission • General Review/Reform • Compulsory Retirement Age • Employment and Equality Legislation • Public Service Management Act • Ongoing Review

  13. Cost Projections • Year €bn %GDP • 2006 2 1.3 • 2012 3 • 2021 4 • 2056 6 3.7

More Related