Public Service Pensions (Single Scheme and Other Provisions) Act 2012

21.

Calculation of retirement benefits — qualifying office holders.

21.— (1) A person having completed the vesting period and been the holder of a qualifying office who has attained normal pension age, shall, subject to section 52 and upon application being made to the relevant authority, be eligible to receive a pension as provided for by this section—

( a) if he or she no longer holds a qualifying office, or

( b) if he or she ceases, other than by death, to hold office—

(i) as a qualifying office holder other than as Attorney General, or

(ii) as Attorney General by resigning, by having his or her appointment terminated or by ceasing to carry out duties pursuant to Article 30.5.4° of the Constitution.

(2) Subject to subsection (3), a person to whom subsection (1) relates shall be eligible to receive an annual pension equivalent to the sum of the referable amounts in respect of each calendar year or part of a calendar year in a qualifying office, subject to—

( a) a maximum of one-half of the annualised rate at that time of the pensionable remuneration that stands provided for the qualifying office that person last held, or

( b) where, previous to the last qualifying office held, the person had held any other qualifying office for a period aggregating to not less than the vesting period and the pensionable remuneration in respect of such other office would be higher than the pensionable remuneration for the office last held, a maximum of one-half of the annualised rate at that time of the pensionable remuneration that stands provided for that higher remunerated office.

(3) Where a person, immediately before becoming eligible for a pension under this section, is or had previously been Attorney General but is or was a member of either House of the Oireachtas at the same time as being Attorney General, then the person may elect to have the sum of the referable amounts in respect of each calendar year or part of a calendar year as such a member while Attorney General treated instead as part of the referable amounts in respect of each calendar year or part of a calendar year as Attorney General.

(4) Subject to subsection (2) , a Scheme member or former Scheme member’s annual pension under this section shall equal the sum of the referable amounts at retirement, as determined under this section.

(5) Pension benefits under this section shall not be payable to a person while that person is a member of either House of the Oireachtas or of the European Parliament or is Attorney General or holds the office of President or is a designated office holder.

(6) Subject to subsection (3) , nothing in this section otherwise affects the pension earned as a member of either House of the Oireachtas or as a public servant.

(7) In subsections (2) and (3)“referable amounts in respect of each calendar year or part of a calendar year”, in relation to a calendar year or part of a calendar year of service, means an amount calculated at a rate of 5 per cent of the Scheme member’s pensionable remuneration as a holder of a qualifying office until payment of the pension arises in accordance with this Part by reference to such adjustments as may arise as provided for in section 40 .