Monthly Archives: May 2017

Understanding the Pension Schemes

ARCO’s Strategy on Pension Related Issues includes relative information on the pension schemes for retired commissioned officers of the Permanent Defence Force.

The Representative Association of Commissioned Officers has kindly provided permission to post its information booklets which provide general information on the four pension schemes that have evolved.

The booklets, prepared by Colonel Brian O’Keeffe (Retd) former General-Secretary of RACO and commissioned by the Irish Pensions and Finance, may be accessed through the following links:

 

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Submissions by ARCO to Government Ministers on Pension Issues

Having already made a comprehensive submission to the Public Service Pay Commission on 03 April, and having published its Strategy on Pension Related Issues on this website, the EXCOM of ARCO made submissions to the:

Minister of State with Responsibility for Defence and the

Minister for Public Expenditure and Reform,

on 04 May 2017, in which it took the opportunity to advance its position on the following pension related matters:

  • the valuation of public servants’ pensions,
  • the process of pension restoration under FEMPI,
  • the mechanisms associated with pension abatement,
  • the determination of pension increases, and
  • access to an independent third party mechanism for pension related issues.

These additional submissions may be accessed by clicking on the respective Minister’s titles above. Again, the EXCOM welcomes feedback on these documents.

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ARCO’s Strategy on Pension Related Issues – May 2017

The Public Service Pay Commission is expected to submit its report to Government in May 2017. Talks on public service pay will follow. In parallel, the Government will focus on significant pension reform for State employees. A commitment to reverse the public service pension deductions by 2021 is provided for in the Programme for a Partnership Government. In the interim, corrections in pensions are reflected in the amelioration process on 01 January 2016, 01 January 2017, and 01 January 2018. Beyond the process of pension restoration and pay negotiations, it is likely the Government will further address the adjustment of the value of public service pensions by means of pay or other linkages.

During active service and in retirement, ARCO’s membership made a significant financial contribution in the delivery of unprecedented savings across the public service. In the current financial climate, 2021 as a possible date for the full restoration of pensions is unwarranted and unfair. The value of pensions should be protected, and an appropriate independent third party mechanism is necessary to address pension anomalies and entitlements.

In this context, the EXCOM has developed a comprehensive Strategy on pension related issues. The Strategy provides relevant information, outlines ARCO’s position on specific subjects and prescribes the associated implementation process. The objective is to inform ARCO’s membership on evolving pension issues and to provide the EXCOM with material for use in submissions to external stakeholders.

Subjects addressed include: Valuation of Public Service Pensions, Pension Restoration, Pension Abatement, Provision for Pension Increases, and Independent Third Party Mechanism.

Each section contains relevant information, statistics, and constructive analysis. Within key sections, both the Government’s position and ARCO’s approach to address specific issues are outlined. For ease of reference, ARCO’s position on all issues is consolidated in Annex ‘A’. Annex ‘B’ provides an Aide Memoire (TACAID) of key lobbying issues.

Availing of the information contained within the Implementation Section and Annex B, members are encouraged to be actively engaged in the lobbying process. Feedback on the Strategy will be welcomed by the EXCOM.

Following on from its submission to the Pay Commission, the EXCOM made submissions to the Minister of State with Responsibility for Defence and the Minister for Public Expenditure and Reform on 04 May 2017. These additional submissions will be posted on the website, in due course.

Link to Strategy

Category: Pensions | Tags: ,
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