TDs who lost their seats in the election will be eligible for pension payments, with those with longer service doing better.
Departing TDs with more than eight years' service have a choice of two pension schemes. Those with less than five years - in effect members who sat only in the last Dáil - are restricted to one scheme.
The maximum payable under both schemes is half the current Dáil salary - €69,000 a year - plus a gratuity of 1½ times salary, i.e., €103,500.
The main difference is that under the older scheme, introduced in 1986, qualifying TDs can draw a pension as soon as they lose their seats, regardless of age. In order to qualify, they must have served eight years in the Dáil prior to the end of the 27th Dail in 1997. To get the full pension they would need to have served 26.66 years.
Under the new scheme, which was introduced in 1992, departing TDs cannot draw pensions until they are 50. The minimum service period is three years, and full service is 20 years. A reduced pension is available from age 45 onwards.
But the newer scheme also includes a "termination allowance" for TDs who lose their seats at a general election. Provided they do not become a senator or MEP, they get a lump sum of two months' salary. In addition, provided they have three years' continuous service, they qualify for severance payments. These range from one payment after three years service to a maximum of 12 after 14 years' service.
A qualifying TD could receive a maximum of €54,652 under these two schemes.
