Pension hike for 200000 employees: Pensioners will get the benefit of revised salary agreement

Dublin: The updated pay accord will also help Ireland's retirees, who are suffering from the country's rising cost of living. According to this, an increase in pension benefits is anticipated for 190,000 retired public sector employees. 

6.5% more money will be added to the pension than there is now. The updated wage agreement states that the public sector pension expense for this year will rise to 3.7 billion euros. The new public sector pay deal, which will get 1.6 billion euros, will cover this increase.

The increase will also benefit retired nurses, gardaí, teachers, civil servants and council workers. The 57,000 retired HSE Employees, 44,000 teachers, 31,000 ex-civil servants, 22,000 council workers, 13,000 ex-defence personnel, 11,000 gardaí and 11,000 third-level staff will receive higher pensions.

Forsa, a trade union, has sent a letter to the Department of Public Expenditure demanding that the relationship between salary increase and public sector pension increase be maintained. Forsa said that the increase in salary will also be reflected in pension.