Union brands public pensions overhaul ‘theft’

AN overhaul of public pensions which will save taxpayers €1.8 billion was described as theft by teachers representatives.

Changes planned to pensions for new public servants will see the build up of retirement funds linked to an average of their working salary over the years rather than just their employment grade.

Public Expenditure Minister Brendan Howlin yesterday published changes in a bill and said that the move would put Ireland at the front of public service pension reform in Europe.