Major bailout will be required for troubled teachers’ pension fund

Major bailout will be required for troubled teachers’ pension fund
Mary Mitchell O’Connor

The department is already paying €1.17 billion in superannuation lump sums and ongoing pension costs

Secret notes prepared for Mary Mitchell O’Connor show that the Department of Education is facing a pension time bomb that will require a major bailout of teachers’ retirement schemes.

The notes state that “should the number of retirements continue to increase at the current rate, the department will not be in a position to meet these costs within the allocation provided”.

The department is already paying €1.17 billion in superannuation lump sums and ongoing...

Subscribe from just 1€

Exclusive offers

Choose the subscription that is right for you

Monthly Subscription

€1

For the first month

€19.99 Monthly Thereafter

Subscribe today

Cancel anytime

Annual Subscription

€200€149

For the first year

€199.99 annually thereafter

Subscribe today

Cancel anytime

Quarterly Subscription

€55€42

For the first 90 days

€55.00 quarterly Thereafter

Subscribe today

Cancel anytime

These offers are not available for current subscribers. Offers and pricing are subject to change without notice.

Terms & Conditions Apply

Please Subscribe or Log in to continue

Subscribe Login

Related Articles

More from The Business Post