This article is from page 23 of the 2011-02-08 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 23 JPG
THE IRISH National Teachers’ Organisation said Government could afford to pay the cost of teachers’ pensions. The union criticised what it called plans by Government to walk away from pension responsibilities.
The claims came at a meeting for primary and post primary teachers held in the University of Limerick on Wednesday.
At present retired teachers get a pension of half of their final salary after 40 years teaching. These pensions are linked to the pay of serving teachers.
The new proposals would mean that pensions would be decided on “career average” earnings.
“These three proposed changes will be devastating for the pensions of new teachers,” said Sean McMahon. INTO Executive member representing Clare.
“There will be no net benefit from being in a pension scheme as many teachers will pay in far more than they will ever get out. This situation may be open to legal challenge especially since membership is compulsory.”