1,000 teachers to take early retirement
Published 08/12/2011 | 05:00
NEARLY 1,000 teachers have signed up to take early retirement before the end of February.
But the number could significantly increase as teachers rush to avail of better pension benefits if they leave before February.
Under the Croke Park agreement, public servants retiring before February 29 will have their pension and tax-free lump sum based on their 2009 salary, before pay cuts were imposed.
The exodus is good news for the estimated 2,000 young teachers without regular work.
The Department of Education said that by the end of November, 584 primary and and 367 second-level teachers had applied for early retirement. Even though the end of November was set as the deadline, teachers may still apply for the package before the end of February.
The department confirmed that the final deciding factor in the acceptance of an application for retirement was the agreement of the board of management.