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Teachers bag €200k in pensionsbonanza

Five secondary school teachers last year received lump sums between €150,000 and €200,000 in a pensions bonanza, new figures show.

In figures provided by the Dept of Education in response to a Freedom of Information request, they show that one retired school teacher received a lump sum of €165,974.

The tax free lump sum received was the top amount paid out to a retiring teacher in the primary and post primary sector last year - the highest amount received by a primary school teacher was €143,672.

The exodus of primary and second school teachers from the public service in 2012 when total lump sums totalled €172.36m slowed last year with lump sum payments totalling €79.3m - a drop of 54pc.


The figures show that last year primary school teachers received lump sum payments totalling €43.97m compared to €97.6m in 2012 with their secondary school counterparts receiving €35.33m.

Retiring school teachers and principals are entitled to one and a half time's their salary in a tax free lump sum and the figures show that 121 retiring secondary school teachers received lump sums between €100 and €150k last year with an additional 216 receiving between €50 and €100k.

Figures for the primary sector show that 175 teachers received lump sums between €100,000 and €150,000 with 250 getting €50,000 to €100k.