Tag Archives: Pensions

Public Service Agreement – Payment of 1st June 2024 Pension Increase

Members will be aware from our posting of 2nd May 2024 that Pensions Section has stated it is planned to include the benefit of the 1st January 2024 increase in pensions, under the Public Service Agreement 2024 to 2026, in the May 2024 pension payment. This is an increase in Pay of 2.25% or €1,125, […]

Public Service Agreement – Payment of 1st January 2024 Pension Increase

Pensions Section of the Department of Defence has forwarded this NOTE to ARCO in relation to the pension increases due under the Public Service Agreement 2024 to 2026. We have already provided our members with comprehensive information on this Agreement, especially in our posting of 5th February 2024 (https://arcoireland.com/public-service-agreement-2024-2026/). Pensions Section’s note states that it […]

Public Service Agreement 2024 – 2026

The proposed Public Service Agreement, which covers 2024 to 2026, was reached at the Workplace Relations Commission on 26th January (See HERE). ARCO has obtained confirmation that the Pay Measures in the Agreement, and outlined below, will also apply to Military Pensions (See HERE). This ensures that the current pensions increase policy, of maintaining parity […]

Recent Pension Increase Clarification

The Building Momentum Agreement stipulated an increase in annualised basic salary for serving public servants from 1 October 2023 of 1.5% or €750, whichever is greater. Under the public service ‘pay parity’ concept, the pensions of ARCO members are increased in line with movements in the pay and allowances of serving personnel. ARCO recently received […]

Update – Pension Adjustment in respect of October 2023 increase

We recently advised ARCO members that Pensions Financial Administration intended to pay the benefit of the 1.5% increase, due from 1st October 2023 under the extended Building Momentum Agreement, in the pension payroll of 30th November 2023 for the vast majority of military pensioners. See our posting of 11th October 2023 at: https://arcoireland.com/pension-adjustment-in-respect-of-october-2023-increase/ Pensions Financial […]

Pension Adjustment in respect of October 2023 increase

The extended Building Momentum Agreement includes increases to serving personnel and to pensioners in pre-2013 pension schemes. The principle of parity between pay and pensions is therefore being maintained under the agreement to the end of 2023. Pensions awarded under the Single Public Service Pension Scheme, introduced in 2013, are increased in line with Consumer […]

Update: Pension Adjustments in respect of October 2022 and March 2023 increases

Members will be aware from previous postings that the extended Building Momentum Agreement was sanctioned in the latter part of 2022 and included the following increases to serving personnel and to relevant qualifying pensioners in pre-existing pension schemes: 2 February 2022 increase of 3%. (This, plus the relevant associated arrears was paid in the December […]

Pension Adjustments in respect of October 2022 and March 2023 increases

ARCO has been in contact with Pensions Section of the Department of Defence in relation to the implementation of increases to Defence Forces Pensions and has been provided with the following update.  Members will be aware from previous postings that the extended Building Momentum Agreement was sanctioned in the latter part of 2022 and included […]

Pension Adjustments in respect of February 2022 and October 2022 increases

ARCO has received the following communication from Pensions Section of the Department of Defence: Message about when the benefit of the recently approved Building Momentum* increases will be implemented for military pensions As indicated by the Minister for Defence at the Foreign Affairs and Defence Select committee last Thursday 10 November, work is underway to […]

Latest Pay Agreement and Increases to Pensions

The Minister for Public Expenditure and Reform, Michael McGrath TD, has secured government approval for proposals to extend the current public service pay agreement, Building Momentum, to the end of 2023. Subject to ratification, the proposals will see a 3% increase in pay for public sector workers, backdated to 2 February 2022, a 2% increase […]

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