Public service pension cuts clarified
Frank: Where a person is on a public service pension of €39,000 that would translate into a reduction of €2,070. However, a 4pc reduction amounts to €1,560. Which figure is correct?
The Minister for Finance indicated that there would be an average 4pc reduction in public sector pension.
In the documents published along with the budget it is made clear that the reductions will be tiered along the lines outlined in the Four-Year Plan.
This means that someone on a public sector pension of €39,000 a year will suffer a reduction of €2,070 rather than €1,560.