The Minister for Finance, Mr McCreevy, today said the Government has decided to implement a number of further key recommendations of the Commission on Public Service Pensions.
Mr McCreey said the new changes complement those announced in the Budget namely the raising of the minimum pension age to 65 and the removal of the compulsory retirement age for most new entrants.
The main changes announced today include a facility to allow public servants to retire from age of 50-55 with reduced superannuation benefits.
The Government is also introducing an 'integration formula', a new calculation formula for integration between social insurance and public service pensions to boost the aggregate retirement income of lower-paid public servants.