Let us take two teachers retiring after 40 years service on pensionable remuneration of €60,000. State Pension = €12,000
One retires in 2013 at age 60 on PRSI class D i.e. pre 6th April 1995. This teacher will receive a pension of:
€60,000 x 40 years x 1/80 = €30,000 from the Department of...