Nearly 30 teachers got retirement lump sums of over €150,000 last year.
Freedom of Information figures released to Newstalk show that 670 teachers received at least €100,000 on their retirement last year.
The figures show that a total of 1,276 teachers received retirement lump sums in 2021 – an increase of 137 on the previous year.
The total value of the payments was nearly €121m – up €12m on the previous year.
Two secondary school teachers got over €175,000 and one primary school teacher received over €160,000.
Former St Andrew's College headmaster Arthur Godsil told Newstalk that teaching is now a well-paid job.
“The starting salary now is around about €35,000 and it goes up to around €70,000 or thereabouts when you are 65,” he said.
“So, it is a well-paid job and of course, there are lots of other perks to it as well – but it is a really important job.
“I mean, my view is that education and health are the two pillars of a sound society and a just society.”
The figures show that six secondary school teachers received a lump sum of more than €170,000 euro, while nine primary school teachers got a sum of more than €150,000.
Mr Godsil said the payments are governed by rules set down in the public service pension scheme.
“The pension arrangements for teachers and civil servants are controlled by the superannuation scheme which is designed to provide an income after retirement as well as a lump sum,” he said.
“It is not a question of judging whether they are justified or not – it is a question of the actual mechanics and the finances behind how much money you put in and how much money comes out at the end of the day.”
In all the pension scheme paid out €964m to teachers, their spouses and children last year.