Saturday 3 December 2016

Kenny never asked how much pension was worth

Fionnan Sheahan Political Editor

Published 23/02/2011 | 05:00

ENDA Kenny again said yesterday he did not know how much he contributed to the teacher's pension he is now giving up.

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The Fine Gael leader also said he didn't know what the pension or lump sum he is now not taking was worth.

"I never enquired as to what it was worth," he said.

Despite spending only four years teaching in the classroom, Mr Kenny's teaching pension is estimated to be worth €30,000 per annum once he reaches retirement age, on top of a €100,000 tax-free lump sum once he reached the age of 60. Mr Kenny left teaching in 1975 when he was elected as a TD. He resigned his teaching position in 2004.

But the pension contributions continued after his election as a TD, resulting in a substantial teaching pension pot.

A similar pension in the private sector would require spending up to €1.3m, according to Aidan McLoughlin of the Independent Trustee Company.

Irish Independent

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