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Gratuity pay in Public Service - changes

  • 18-11-2010 10:38am
    #1
    T1977
    Closed Accounts Posts: 44 ✭


    Have been informed by a FF T.D. that anyone entitled to lump sum gratuity on retirement will be paid it in stages after Budget Day rather than lump sum on retirement as it stands now.


Comments

  • #2
    not yet
    Registered Users, Registered Users 2 Posts: 7,008 ✭✭✭not yet


    Not a chance, Public service pension regulations would need to be changed for that to happen,.......


  • #3
    gizmo555
    Closed Accounts Posts: 2,948 ✭✭✭gizmo555


    not yet wrote: »
    Not a chance, Public service pension regulations would need to be changed for that to happen,.......

    And who says these regulations can't be changed? Are they holy writ, or what?


  • #4
    Liam Byrne
    Closed Accounts Posts: 18,163 ✭✭✭✭Liam Byrne


    T1977 wrote: »
    Have been informed by a FF T.D. that anyone entitled to lump sum gratuity on retirement will be paid it in stages after Budget Day rather than lump sum on retirement as it stands now.

    If they're entitled to "a lump sum gratuity on retirement" then that's what they get.

    What was the context of the discussion, and how did this come up ?

    I'm all for getting mad at FF, but let's stick to the facts of what they've done - they're plenty bad enough.


  • #5
    T1977
    Closed Accounts Posts: 44 ✭T1977


    Lets just say local TD informed person thinking of retiring to get out before Budget Day. Thats all I can say!


  • #6
    not yet
    Registered Users, Registered Users 2 Posts: 7,008 ✭✭✭not yet


    T1977 wrote: »
    Lets just say local TD informed person thinking of retiring to get out before Budget Day. Thats all I can say!

    Yeah... he was told that because there may be changes to the pension being taxed..


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  • #7
    Paulzx
    Registered Users, Registered Users 2 Posts: 1,981 ✭✭✭Paulzx


    not yet wrote: »
    Not a chance, Public service pension regulations would need to be changed for that to happen,.......

    I have no comment on the validity of the rumor the original poster is suggesting.

    However, there is no problem with changing public service pension arrangments. Legislation was passed to introduce the pension levy and i have no doubt new legislation could be passed again.

    Obviously there would be huge outcry within the public service(of which i am part of) but don't bury your head in the sand.

    This governement will contemplate anything at this stage as they stagger from one disaster to another


  • #8
    oppenheimer1
    Closed Accounts Posts: 6,084 ✭✭✭oppenheimer1


    not yet wrote: »
    Not a chance, Public service pension regulations would need to be changed for that to happen,.......

    It wouldn't exactly be a bad idea, but it is only a short term budgetary relief measure. Over the course of the number of years of the stages the figure paid out in lump sums total figure would approach the annual rate paid out today.

    Long term there would be no exchequer benefit for this unless the amount was reduced.


  • #9
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    I think it would be foolish of the Government to bring in a change like that, effective from budget day.

    They should announce it on budget day with a view to it coming into affect at a date sometime after quarter 1 in 2011.

    That way, those coming close to retirement (few years away) may decide to just jump ship to save themselves the money - it could be undertaken in tandem with an extension of the IERS. Public sector numbers come down, costs come down and then they also have the long-term tax intake from taxing the lump sum etc...


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