ARCO has been informed by Pensions Section that it plans to include the benefit of the 1st October 2024 increase in pensions, under the Public Service Agreement 2024 to 2026, in the November 2024 payroll (for the vast majority of pensioners). If this is not possible, it will be paid in the December 2024 payroll. This is a general round increase in annualised basic salary for all public servants of 1%, or €500, whichever is greater.
Full information on the Public Service Agreement 2024 to 2026 is available in our Posting of 5th February 2024.
Members will be aware from our Posting of 24th January 2024 that the relevant percentage increase in annualised basic salary is what determines the amount of increase that will apply to the related pension. This does not equate with the actual monetary increase (€500) received by serving personnel.
The pensions of those in the Post 2013 Single Pension Scheme are increased with effect from 1st January each year based on the CPI increase for the previous year.
