Monday 23 April 2018

Golden handshakes for secretaries general

THE OLD DEAL

•A special severance payment worth up to a half year's pay l Up to 10 years' extra service that they had not worked -- added in when calculating their pensions l A pension lump sum, worth up to one-and-a-half times' pay for someone with 40 years' service l An annual pension of up to half-a-year's pay. THE NEW DEAL

•No more added years.

•No more severance payments for civil service appointees, but they will be offered another job on the same terms and conditions when their contract is up.

•Private sector recruits may get a severance payment of up to a full year's pay if they are not offered another job or are under 60 when their contract expires, but not if they are offered another job and refuse it.

•Pension entitlements remain the same but cannot be drawn down before a minimum pension age of 60.

Irish Independent

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