With effect from 1 Jan 2013 a new pension scheme came into effect for all public servants, including teachers, when commencing employment for the first time or returning to teaching after a break in service (resignation) of more than 26 weeks. Under the rules of this Career Average Pension Scheme, a teachers ‘service’ is no longer used for calculation of benefit. Instead, ‘referable amounts’ are collected while working and used to calculate any future benefit.
Retired teachers who return to work, for instance as substitute teachers, after Jan 2013, and no longer qualify for benefit under the traditional Teachers’ Schemes, will have pension contributions deducted for the ‘Single’ Pension Scheme. Under the associated legislation, annual Benefit Statements are required to be issued by the DE, as the pension administrator for teachers in the ‘Single’ Scheme. Recently, a number of members have received an Annual Benefit Statement. This document sets out the value of amounts deducted and the current pension and lump sum benefits accruing from the contributions so far.
These Statements should be retained as a record of your contributions.
Further enquiries regarding claiming of benefits or seeking a return of contributions should be referred to INTO: (01)8047700 or email info@into.ie
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