Politicians Retiring

fliball123

Is it me or is there an unusual amount of TDs retiring and is there any way the public can have a say in the amount these clowns get when they retire. Why is it the gen public is expected to wait till 68 before they get their pension yet these clowns get it at any age

Sleepy

Because the general public elected people who see nothing wrong with lining their nests at the general publics expense to rule them.

dudara

IIRC they will take home more in pensions now by retiring, than failing to be returned at the next election.

ilovesleep

dudara wrote: »

IIRC they will take home more in pensions now by retiring, than failing to be returned at the next election.

Im having a heart attack

C.D.

dudara wrote: »

IIRC they will take home more in pensions now by retiring, than failing to be returned at the next election.

Bertie Ahern stands to be €60k better off a year by retiring as a TD now. That is 4 times the minimum wage. His total pension entitlement is circa 150k p/a iirc.

EricPraline

In the last budget a tax threshold of €2.3m was set for pensions. Any "super pensions" valued about that level are now heavily taxed, unless the revenue gives a special dispensation.

The fact that our miserable failures of ministers will receive pensions well above this threshold shows how ludicrously generous their pensions are. I wonder how many TDs will be applying for (and will receive) a dispensation...

THE pensions of retiring cabinet ministers and former Taoiseach Bertie Ahern are so generous that they exceed the limits allowed under new tax rules, it has emerged. This means the Government will be forced into the embarrassing position of having to apply to the Revenue Commissioners for a special dispensation for these pensions.
...
Those who have a pensions fund greater than €2.3m have to apply to the Revenue Commissioners for a higher threshold. Mr Gilhawley said retiring ministers and former Taoiseach Bertie Ahern will have pensions worth well in excess of €2.3m. Some pensions experts have calculated that, based on the fact that ministers can retire at 50, they effectively have a pension fund worth almost €7m.

http://www.independent.ie/national-news/ministers-face-euro1m-tax-bills-under-tighter-pension-rules-2485778.html

Gumbo

EricPraline wrote: »

In the last budget a tax threshold of €2.3m was set for pensions. Any "super pensions" valued about that level are now heavily taxed, unless the revenue gives a special dispensation.

The fact that our miserable failures of ministers will receive pensions well above this threshold shows how ludicrously generous their pensions are. I wonder how many TDs will be applying for (and will receive) a dispensation...
http://www.independent.ie/national-news/ministers-face-euro1m-tax-bills-under-tighter-pension-rules-2485778.html

its these kind of payouts that should be squashed, capped more strictly etc etc
its not fair to the general worker that has to retire at 68 and has contributed to their pension for 40 years or so to receive maybe 10k while these guys receive upwards of 70, 80 or 100k.....

dan_d

One of the retiring politicians said yesterday (can't remember which one) that more people pulled out of the last GE than have pulled out so far for this one.

I'm somewhat sceptical of that fact, I don't know where his info came from.....

As for the pension thing....well....:mad::mad::mad:

lmimmfn

didnt they extend the fact that TD's pensions wouldnt be affected by the last budget until march?

Liam Byrne

kceire wrote: »

its these kind of payouts that should be squashed, capped more strictly etc etc
its not fair to the general worker that has to retire at 68 and has contributed to their pension for 40 years or so to receive maybe 10k while these guys receive upwards of 70, 80 or 100k.....

Particularly since some of them are kicked out after 5 or 10 years because they were useless.

Imagine:

1) Interview / canvass for a job
2) Get the job / be elected
3) Be so crap at it that your employers want you out at the first opportunity
4) Get a pension for life

Absolutely and utterly sickening! :mad:

Meanwhile absolute top-level con-men like Ahern get paid for not turning up and then retire on more per month than I'll earn next year, while still not being tax-compliant and STILL being under investigation.

Godge

EricPraline wrote: »

In the last budget a tax threshold of €2.3m was set for pensions. Any "super pensions" valued about that level are now heavily taxed, unless the revenue gives a special dispensation.

The fact that our miserable failures of ministers will receive pensions well above this threshold shows how ludicrously generous their pensions are. I wonder how many TDs will be applying for (and will receive) a dispensation...
http://www.independent.ie/national-news/ministers-face-euro1m-tax-bills-under-tighter-pension-rules-2485778.html

As far as I know all public sector pension schemes have a blanket exemption. While there would be very few public servants who would have that amount of a pension (don't know if there is an actual case, but a secretary general who retired on full pension in his early fifties would be an example), TDs and Ministers would probably be covered by this exemption.

Riskymove

Godge wrote: »

As far as I know all public sector pension schemes have a blanket exemption.

HUH?

I am afraid not, public and private sector retirement lump sums are treated the same and are generally tax-free for most workers.

after the last budget the lump sum is taxed from €200,000

Fentdog84

Most of the retiring TDs are Fianna Fail. Most likely because they know the good days are over for them and their party(politically speaking) and the amount of crap that they know is coming down the tracks in the next few years they dont want to stick around for all the revelations and the recriminations. Wouldnt suprise me to see most of them leaving the country altogether. I would actually have a bit more respect for the TD's who choose to face the music and contest the next election

fat__tony

Because the vast majority of them are ****ing parasites.

fliball123

I wonder if we can push for the next party in power to put in legislation alla the bankers bonuses that anyone who has retired and is anyway affilated with poliics or banks between 2008 - 2011 get a 90% tax on their pensions..I find it hard to swallow that they done this to the bankers and then have the balls to turn around and give themselves a lot more...

th3 s1aught3r

http://www.sbpost.ie/news-features/departing-tds-to-dip-into-e16m-pensions-pot-53704.html

The former taoiseach will be €60,000 better off yearly by retiring now instead of returning as a TD, as a result of a major overhaul of the pension system and the end of long service increments in the next Dáil.

Former ministers Noel Dempsey and Dermot Ahern will be about €40,000 better off, taking home €130,000 instead of the €92,000 they would earn if they were reelected in the spring.