Introduction Of ASC In January 2019
Reduction in current overall pension contribution as Pension Related Deduction ends
The DES has issued Circular 0084/2018 (PDF) providing for the introduction of the Additional Superannuation Contribution (ASC) from 1 January 2019. The ASC replaces PRD (the “pension levy”) and reduces the current overall contribution. The revised ASC thresholds (below which no ASC is paid) are common to all, whereas the ASC rate is lower for a member of the Single Public Service Pension Scheme (“Single Scheme”) – in general, Single Scheme members entered the public service on or after 1 January 2013.
Circular 0072/2019 PDF introduced further revised thresholds for the payment of ASC. These changes were effective from January 2020.
Examples of Changes from January 2020
|
1. Public Servants who are Members of pre-2013 Pension Scheme
|
|
|
Band
|
Rate |
| Up to €34,500 |
Exempt
|
| Next €25,500 (€34,500 to €60,000) |
10%
|
| Balance (€60,000 plus) |
10.5%
|
|
2. All Public Servants who are Members of the Single Public Service Pension Scheme
|
|
| Band |
Rate
|
| Up to €34,500 |
Exempt
|
| Next €25,500 (€34,500 to €60,000) |
3.33%
|
| Balance (€60,000 plus) |
3.5%
|
Updated 5 July 2023
