Hanafin to cling to her '€400,000' pension pot

97i9y3941

http://www.independent.ie/national-news/hanafin-to-cling-to-her-euro400000-pension-pot-2107595.html

SOCIAL and Family Affairs Minister Mary Hanafin is refusing to give up her old school job as she amasses a teaching pension which would cost her nearly €400,000 if she were a private sector worker today.

Her teaching pension is in addition to the Rolls Royce retirement nest eggs she enjoys as a TD and minister.

Ms Hanafin is heading up the Government's overhaul of the pension system, which will result in thousands of people having to work until they are 68.

She is among eight teacher-turned-TDs who are amassing a combined €3.2m pension pot by refusing to quit their teaching posts.

Their pensions are continuing to grow in value because they are linked to current teacher salaries, an Irish Independent investigation can reveal.

These politicians are also providing themselves with fallback careers should they lose their seats at a time of record unemployment, including the 1,500 teachers who are on the dole.

As well as earning a ministerial salary of €191,417, Ms Hanafin's teaching pension fund is estimated to be worth €415,800 in today's private market, based on calculations provided by an independent actuary.

"It is a special arrangement given the lack of surety which accompanies a political career," she told the Irish Independent.

Based on government guidelines, she would be also be entitled to a ministerial pension of about €60,000 and TD benefits of more than €30,000 if she retired today.

The current valuation of her teaching pension fund was arrived at by applying a multiple of 30 to her annual basic teaching pension of €12,600.

It was based on an annual teacher's salary of €63,000 and other factors, including prevailing interest rates.

Other teacher-TDs in the Dail include Ms Hanafin's cabinet colleague, Foreign Affairs Minister Micheal Martin, Fianna Fail's Margaret Conlon and Maire Hoctor, Fine Gael's Jimmy Deenihan, Labour's Tommy Broughan and independents Joe Behan and Maureen O'Sullivan.

Quota

All of these double-jobbing TDs will see their teacher pensions increase because they are based on current teaching salaries.

A number of the TDs claimed they were not resigning their positions because their schools would lose a full-time teaching post if they did.

Mr Martin told the Irish Independent: "My pension entitlements were frozen when I stopped teaching. If I resigned the position the school would lose a post."

However, education sources said this depended on the number of teachers and pupils in the school in question.

For example, the principal of Gort Community School in Gort, Co Galway, confirmed that when Fianna Fail TD Frank Fahey's resignation became effective last year, the school did not lose a post because it was not over its quota.

Labour's Tommy Broughan, who taught at St Aidan's CBS, Whitehall, Dublin, for 12 years before entering politics, claimed he wanted to resign as the system was out of date and needed to be changed.

But he added that he was also concerned that the school could lose a post.

"I've already told the school that I want to resign," he said.

"But that is a matter for the school and I don't want to leave them without a post.

"There has been a change in the economic climate in recent times," he said.

Independent TD Maureen O'Sullivan, who was elected last year in a by-election, said she would not be resigning her old job either.

Unions have called for changes to the lucrative pension and secondment entitlements of teacher-turned-TDs and the Department of Education has been assessing the situation since last year.

"We are suggesting that this arrangement be reviewed with a view to introducing a cap, so that if a teacher serves a certain number of years as a TD, and intends to continue as a TD, that he/she is required to resign from their teaching position," a spokeswoman for the Association of Secondary Teachers in Ireland told the Irish Independent

The department would not elaborate on what changes were being examined and when plans may be brought to the Cabinet.

Well,nice to see they leading by example,lets all milk the system dry,bunch of hypocrites,shame on them.

gandalf

If there was real leadership in this country outdated practices like this would be sidelined along with the fact ex-Ministers get pension entitlements straight away after standing down. Pensions should only come into effect when someone actually hits retirement age.

Hagar

deadtiger wrote: »

If there was real leadership in this country outdated practices like this would be sidelined along with the fact ex-Ministers get pension entitlements straight away after standing down. Pensions should only come into effect when someone actually hits retirement age.

Don't be silly, this is Ireland, the land of the pot of gold at the end of the (TD's) rainbow.

PeakOutput

deadtiger wrote: »

Pensions should only come into effect when someone actually hits retirement age.

that is being brought in for goverment along with the new pension reforms

Pot Noodle =

PeakOutput wrote: »

that is being brought in for goverment along with the new pension reforms

Yeah right

Fuhrer

When they rolled out the dual mandate thing they should have included holding any other job or income.

high heels

Why is penson such a dirty word these days..

Fuhrer

high heels wrote: »

Why is penson such a dirty word these days..

Because of those damn Cougars

Hagar

If I'm not mistaken it also means a full-time teaching post is technically occupied and nobody else can be hired full-time to do her teaching job. This means someone is doing her job under contract with little or no job security while she retains the right to go back to that job at the drop of a hat. Where is the social justice in that Minister?

97i9y3941

69 wrote: »

If I'm not mistaken it also means a full-time teaching post is technically occupied and nobody else can be hired full-time to do her teaching job. This means someone is doing her job under contract with little or no job security while she retains the right to go back to that job at the drop of a hat. Where is the social justice in that Minister?

yup and since theres an embargo theres no recruitment either,so they are blocking up the positions,why the hell can anyone speak up,oh i forgot,most of them are at it!..

markpb

Fred83 wrote: »

Mr Martin told the Irish Independent: "My pension entitlements were frozen when I stopped teaching. If I resigned the position the school would lose a post."

The irony of this is that he's personally and deliberately circumventing government policy while simultaneously being part of that government and getting paid handsomely for it.

anymore

A small number of people have complained about this for years - Useless Enda held on to his post for over twenty years and will get a public pension for those years along with his TD's and Ministerial pension.
It is immoral, it should be illegal.
For myself, I will never vote for a teacher/ lecturer who does this regardless of Party. About 20 % of TDs / Senators in the current Dail are or have been Teachers/ Lecturers and will available of this outrageous abuse.
Did Trevor sargeant resign his teaching post on appointment to his Ministry, or one of the Greens ?

anymore

markpb wrote: »

The irony of this is that he's personally and deliberately circumventing government policy while simultaneously being part of that government and getting paid handsomely for it.

He also voted for hosptal co-location at the cabinet table and is one of the objectors to the co -located hospital in the grounds of University Hopsital Cork, along with FF TD Michael McGrath and FF/Green Senaotor dan Boyle. He at least is consistent !:(

jimmycrackcorm

69 wrote: »

If I'm not mistaken it also means a full-time teaching post is technically occupied and nobody else can be hired full-time to do her teaching job. This means someone is doing her job under contract with little or no job security while she retains the right to go back to that job at the drop of a hat. Where is the social justice in that Minister?

And yet nobody complains if the ordinary punter takes a 5 year career-break - what about their replacements job security?.

I've no objection to a TD being able to go back to a teach job (After all it's not as if permanent teachers ever get fired so they all get jobs for life anyway ), I just object to any double payments or double pension entitlements.

anymore

jimmycrackcorm wrote: »

And yet nobody complains if the ordinary punter takes a 5 year career-break - what about their replacements job security?.

I've no objection to a TD being able to go back to a teach job (After all it's not as if permanent teachers ever get fired so they all get jobs for life anyway ), I just object to any double payments or double pension entitlements.

It gives people working in the PS an unfair advantage over those in private sector who are trying to break into politicis. In effect the private sector voters are subsidising those in PS whao are pursuing a career in politics. It is corruption.

Riskymove

jimmycrackcorm wrote: »

And yet nobody complains if the ordinary punter takes a 5 year career-break - what about their replacements job security?.

I've no objection to a TD being able to go back to a teach job (After all it's not as if permanent teachers ever get fired so they all get jobs for life anyway ), I just object to any double payments or double pension entitlements.

while I dont like the current arrangements either I'll make a few points:

1. There are no 'double pension arrangements' as such

if she has 10 years as a teacher then she will get a pension related to those 10 years only

and if she is 10 years a TD/Minister then she will get a pension for those 10 years

while she will have two (9or even three pensions) they will not be 3 'full' pensions

2. Link to teacher's pay increases has now been decided by Brian lenihan to do away with so that no longer applies

3. there is no 'pension pot' built up

pah

Riskymove wrote: »

2. Link to teacher's pay increases has now been decided by Brian lenihan to do away with so that no longer applies

I think this will apply to new members of the PS not current ones

Sir Oxman

PeakOutput wrote: »

that is being brought in for goverment along with the new pension reforms

Is it being retrospectively backdated?
Like the NAMA swindle?

PeakOutput

gambiaman wrote: »

Is it being retrospectively backdated?
Like the NAMA swindle?

no idea nad im pretty sure it was hanafin i heard announcing it on news talk so i really am not sure if it is still hapening

97i9y3941

pah wrote: »

I think this will apply to new members of the PS not current ones

oh yes of course,convenient that they extend their working age to screw taxpayer to the last..

Victor

Mr Martin told the Irish Independent: "My pension entitlements were frozen when I stopped teaching. If I resigned the position the school would lose a post."

In other words, some other school in need of a teacher is being deprived, so his school can have one it isn't entitled to.

Riskymove

pah wrote: »

I think this will apply to new members of the PS not current ones

Fred83 wrote:

oh yes of course,convenient that they extend their working age to screw taxpayer to the last..

No it will apply to everyone; the current situation is that the Minister of Finance 'may' pass on pay increases to relevant retired staff but Lenihan is pretty clear he wont anymore...now talking about connecting it to cost of living

what has recently happened but which will only apply to new entrants is the idea of your pension being calculated base don average earnings rather than final salary.

The increased age for the state pension will apply to public sector workers too

Riskymove

Victor wrote: »

In other words, some other school in need of a teacher is being deprived, so his school can have one it isn't entitled to.

indeed and its probably in his constituency!!

Riskymove

PeakOutput wrote: »

that is being brought in for goverment along with the new pension reforms

actually thats already been changed in law but cannot take effect until the next Oireachtas is put in place

anymore

Of course one of the more bizzare aspects to this Teacher/ poltitician issue is that Hannafin and her fellow teacher/politicians will receive a large compensation payout when they leave their Ministerial posts to enable them to re adjust and to allow them find alternative employment. The fact that hold permanebt teachering posts will be irrelevant ! Is that correct ?

donkey balls

the likes of hannafin&martin who have been out of the school system for more than 10 years,do they think that can just turn up at the school they thought in and start teaching again?:rolleyes: if so they are living on a different planet.

Fighting Irish

If i was entilted to money i'd take it, i don't give a fook how bad off other people are

yoshytoshy

Next we'll have the RIA

Republican integrity army ,to rid ourselves of financial hurs.