Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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236. To ask the Minister for Public Expenditure and Reform in light of the recent increase in mandatory retirement age for members of the Defence Forces, An Garda Síochána, Prison Service and Fire Services, the estimated full-year cost of restoring the pre-2012 pension entitlements for these fast accrual cohorts; and if he will make a statement on the matter. [36965/24]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Single Public Service Pension Scheme is a statutory Public Service Career-Average Defined Benefit Pension Scheme, established on 1 January 2013 under the Public Service Pensions (Single Scheme and Other Provisions) Act 2012. The Single Scheme was established to place publicly-funded retirement benefits on a more sustainable footing in the context of longer life expectancies and is a fundamentally different pension scheme than the occupational public service pension schemes preceding it.

Initially, long-term savings were estimated at circa 35% versus pre-existing pension schemes. However, the decision not to increase minimum retirement age beyond 66 has reduced that estimated saving to circa 25-30%, depending on assumptions used.

All new entrants to the public service, hired after 1 January 2013, are members of the Single Scheme. Members of the Permanent Defence Force, members of An Garda Síochána, firefighters, and Prison Officers are categorised as members of the ‘Uniformed Accrual’ cohort of Single Scheme members. The uniformed grades have certain enhanced benefits that other members of the Single Scheme do not have, in recognition of their earlier retirement age, such as accelerated pension benefits accrual and early payment of scheme benefits, compared with Standard Accrual members. This enables them to accrue more Single Scheme benefits over the expected shorter public service careers in these roles.

As referenced, an increased mandatory retirement age of 62 for Uniformed Members was recently introduced by Government, following the commencement of the relevant Part 11 provisions of the Courts, Civil Law, Criminal Law and Superannuation (Miscellaneous Provisions) Act 2024.

This legislative change facilitates an increase in the number of years over which Uniformed Accrual members can accrue pension benefits, should they choose to do so. This option is available to Uniformed Accrual members of the Single Scheme as well as those in pre-existing public service pension schemes.

The costings requested by the Deputy are not currently available.