Cost Neutral Early Retirement
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From: Department of Education
- Published on: 4 November 2020
- Last updated on: 15 April 2025
What Cost Neutral Early Retirement is
Cost Neutral Early Retirement is a retirement option that allows
- teachers
- special needs assistants
- certain caretakers
- certain clerical officers
to retire early with immediate payment of pension benefits.
The pension and lump sum payments are subject to actuarial reduction to take account of the early payment of lump sum and the longer period over which pension will be paid.
Once you receive the Cost Neutral Early Retirement pension, you cannot subsequently switch to payment of a preserved pension.
What you need to do
To be eligible to apply for Cost Neutral Early Retirement a scheme member must:
- be a serving member of the relevant teachers pension scheme
- have an entitlement to a preserved pension benefit at age 60 or 65, and
- at the time of application, be aged at least 50, or in the case of a new entrant, at least 55.
If you are a member of Single Public Service Pension Scheme please see Public Service Single Pension Scheme.
How to Apply
Teachers
To apply for the Cost Neutral Early Retirement scheme, please see:
Return your completed application to:
Pensions Unit, Department of Education, Cornamaddy, Athlone, Co Westmeath, N37X659
Non-Teaching Staff
To apply for Cost Neutral Early Retirement Scheme, please see:
Return your completed application to:
Pensions Unit, Department of Education, Cornamaddy, Athlone, Co Westmeath, N37X659
See Also