Yes, if a teacher fulfils the minimum service requirement, they can retire at 55.
What those requirements are, and how a teacher hits them, is another set of questions to answer.
The teacher will not get the full pension and lump sum payable at 55, but they can retire.
When a teacher reaches retirement age, they can retire. To retire at 55 with all your pension benefits, you will need to have put in 35 years of pensionable service.
A pension credit is given depending on the years of training the teacher did, with a maximum credit of four years permitted. In this example, a teacher can retire early having 33 years of pensionable service, only if they did the four years of training before entering the profession.
As in all things to do with the teachers’ pension in Ireland, nothing is straightforward. The ability to retire at 55 can depend on many other variables too.
The date of starting a teaching career, any service breaks taken, and job-sharing years can affect the retirement age limit. When the pension calculation begins for a teacher considering retiring, so does the head-scratching.
It has been known for a teacher to retire at 55 but not receive what they were expecting in retirement benefits.
Retirement planning is worth doing, and doing so properly if planning an early retirement.