Monday 11 December 2017

Pension truths

• There has been much comment to the effect that the public sector must take its share of the pension pain.

One such comment I read recently stated: "Public pension schemes are funded on a pay-as-you-go basis. Nothing is put aside during the employee's career. They had put aside nothing and that is what their pensions are worth, nothing."

As a person who has given 37 years in the public service (An Garda Siochana) I can assure you that I, and all my colleagues, paid 2.5pc of our pay as a pension contribution. We also paid an employee's PRSI contribution although we were apparently not entitled to any benefits under the Health Act for some time.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss