Public pension increases to be based on cost of living

Tens of thousands of public service workers could have their pensions overhauled and only receive increases based on the cost of living rather than any future pay rises.

Public Expenditure Minister Brendan Howlin has admitted he could tackle pre-existing public pensions once the Croke Park agreement concludes.

An enabling brief clause in the public service pensions bill allows the minister to make changes to some or all pre-existing public service pension schemes.