Brendan Smith (Cavan-Monaghan, Fianna Fail)
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Cost Neutral Early Retirement (CNER) was introduced by the Minister for Finance in 2005. This is a facility which allows established staff to retire between 50 and 60 and un-established staff to retire between 55 and 65 with immediate payment of pension and lump sum. These benefits are subject to actuarial reduction to take account of early payment of the lump sum and the longer period over which the pension is payable.

The information set out in the table shows the position in my Department regarding staff who availed of Cost Neutral Early Retirement in the last 3 years. There is also a provision in the superannuation regulations which enables staff to retire early on ill health grounds, subject to the approval of the Minister for Finance. The position regarding the staff in my Department who retired on these grounds is also set out.