Cost Neutral Early Retirement Calculation Tool
A Cost Neutral Early Retirement Calculation Tool is now available in the Employers area of the Single Scheme website. The tool will assist administrators in calculating the specific pension and lump-sum actuarial reduction factors that apply where eligible standard accrual members wish to avail of Cost Neutral Early Retirement and is available here.
Administrators should first refer to Circular 18 of 2017 “Single Public Service Pension Scheme – Cost Neutral Early Retirement” which sets out the eligibility requirements and reduction factors where a vested member with a miniumum age of 55 wishes to retire with an actuarially reduced pension and lump sum. The Circular can be found here.https://singlepensionscheme.gov.ie/home/for-employers/administrator-tools/referable-amounts-calculation-template/cost-neutral-early-retirement-calculation-tool/