Pension Cuts

Pension cuts applied from 1st July 2013

Pensions (including pensions of surviving spouses) under €32,500 are not affected.

Pensions over this amount have had the “cuts” implemented by increasing the previous PSPR (Public Service Pension Reduction) by the following amounts:

  • First €12,000                                                          0%
  • Between €12,000 and €24,000                               2%
  • Between €24,000 and €60,000                               3%
  • Above €60,000                                                        5%

No pensions will be reduced to an amount below €32,500.

Examples: 

  • Gross Pension €32,500  -  no change.
  • Gross Pension €35,000 – Total gross reduction €570  (€240 + €330).
  • Gross Pension €40,000 - Total gross reduction €720  (€240 + €480).
  • Gross Pension €45,000 – Total gross reduction €870  (€240 + €630).
  • Gross Pension €50,000 - Total gross reduction €1020  (€240 + €780).
  • Gross Pension €55,000 - Total gross reduction €1170  (€240 + €930).

Pension cuts already applied from 1st January 2011

These cuts were applied to pensions of persons who retired on or before 29th February 2012.  Pensions over €12,000 were reduced by the following amounts:

  • First    €12,000                                                   0%
  • Between €12,000 and €24,000                           6%
  • Between €24,000 and €60,000                           9%
  • Above €60,000                                                  12%

Examples:

  • Gross Pension €12,000  -  no change.
  • Gross Pension €24,000 – Total gross reduction €720
  • Gross Pension €32,500 – Total gross reduction €1465 (€720 + €765)
  • Gross Pension €35,000 – Total gross reduction €1710 (€720 + €990).
  • Gross Pension €40,000 - Total gross reduction €2160  (€720 + €1440).
  • Gross Pension €45,000 – Total gross reduction €2610  (€720 + €1890).
  • Gross Pension €50,000 - Total gross reduction €3060  (€720 + €2340).
  • Gross Pension €55,000 - Total gross reduction €3510  (€720 + €2790).