Public Sector Pension Related Deduction 01 May 2009

As per the Supplementary Budget announced 7 April 2009, the Pension Related Deduction rates have been changed with date effective 01 May 2009.

New rates are as follows:

Weekly Threshold Monthly threshold Levy (%)
€ 340.91 € 1500.00 0%
€ 454.55 € 2000.00 5%
€ 1363.64 € 6000.00 10.00%
Balance Balance 10.50%

It is payable on all income, pensionable and otherwise. (Overtime, allowances or any other like payment) It is additional to any other pension contribution that you are already paying.

It excludes Revenue-approved salary sacrifice: i.e. Travel pass salary deduction

The Deduction will not apply to a pension or pension lump sum.

Under the Income Tax Acts, deductions will be treated in the same way as a normal pension contribution. It will not affect the calculation of an individualís limit under Revenue rules for pension contributions (including AVCís).

For all further information and frequently asked questions regarding the New Pension Related Deduction, please go to this FAQ on the Department of Education website.

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