independent

Monday 21 April 2014

Civil servants pension fund gets €25m top-up

The Government is providing extra cash to ensure that 15,000 retired civil servants get their pension payments next month.

They include 84 former senior civil servants who are on pensions of €100,000-plus.

The current civil service pension fund has run out of money due to the higher-than-expected cost of pensions for civil servants who retired this year.

The Government is now providing €25m extra to the civil service pension fund, which costs more than €500m per year.

The Dail is due to approve this "supplementary estimate" in a vote today.

Fianna Fail public expenditure spokesman Sean Fleming said that without this extra cash, civil service pensioners would not receive their scheduled pension payments on December 6 and December 20.

"It is extraordinary how the public service works. They have exhausted their bank balance," he said.

Mr Fleming called on the Government to deal with the issue of massive pensions in the civil service in its Budget next week.

"It is not acceptable at a time when we're asking more and more of ordinary people while a small group of privileged people remain protected from the economic reality facing the country," he said.

Irish Independent

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