Cost Neutral Early Retirement

The option of voluntary early retirement is available to staff who resign on or after 1st April 2004 with an entitlement to preserved superannuation benefits. This option permits members to retire early with immediate payment of superannuation benefits, subject to actuarial reduction to take account of the early payment of the lump sum and the longer period over which pension would be paid.

Old Entrants with a preserved pension age of 60 are eligible to retire early from age 50 with an actuarial reduction and New Entrants with a preserved age of 65 are eligible to retire early from age 55 with an actuarial reduction.

Full details of the early retirement scheme can be viewed at:
http://www.finance.gov.ie/viewdoc.asp?DocID=2962&CatID=28&StartDate=1+January+2005&m=c.

If you have any queries regarding pensions you should contact the your designated HR Officerin the first instance.