Few apply for early retirement
Published 29/10/2011 | 05:00
THE Government has received very few applications for the 2011 public service early retirement scheme but expects a significant increase next month.
The scheme, which was extended from its introduction in 2009, is designed to incentivise early retirement by insulating pension entitlements from pay cuts imposed since the collapse of the economy.
Under the terms, those aged over 50 can retire on an immediate pension without suffering any penalty for missed years.