The pension payment issued today 3 May 2018 includes an increase for teachers who retired since 1 March 2012.
Arising from the Public Service Stability Agreement [PSSA] the teachers’ pay scale (but not pensionable allowances) was increased by 1% from 1 January 2018. This increase (backdated to 1 Jan 2018) is now being applied to retired teachers whose pensions are based on that scale. In practice this means that the increase will apply to those teachers who retired on reduced salaries i.e. those who retired since 1 March 2012.
Accordingly, this increase does not apply to teachers who retired prior to 1 March 2012. Retirees in this cohort have pensions linked to the previous pay scale which is higher than the current salary scale for serving staff. Thus, no immediate benefit will accrue for pre-March 2012 retirees. See page 5 current Comhnasc.
The PSSA also provides for a further 1% pay increase from 1 Oct 2018.
A comprehensive information note is available on the DES website. It can be accessed by clicking HERE