Common use of Additional Superannuation Contribution Clause in Contracts

Additional Superannuation Contribution. 6.1.1. The parties note that the Government intends to introduce legislation to give effect to the public service pay proposals above. In doing so, and taking account of the analysis provided by the Public Service Pay Commission, the Government has indicated the proposed legislation will provide for the conversion of the existing Pension Related Deduction (PRD) provided for under the Financial Emergency Measures in the Public Interest Act, 2009 (as amended) into a permanent Additional Superannuation Contribution (ASC). 6.1.2. This new contribution will be in addition to the existing superannuation contribution made by public servants currently and will apply to pensionable remuneration only from 1 January 2019. This is intended to underpin the sustainability of public service pensions 6.1.3. In addition to the pay adjustments provided for above, the present thresholds, bands and rates in respect of the Pension Related Deduction will be modified in conversion to the Additional Superannuation Contribution (ASC) to reflect the differentiated pension benefits accruing to public servants in accordance with the following tables: Up to €32,000 Exempt €32,000 to €60,000 10% €60,000 plus 10.5% Up to €34,500 Exempt €34,500 to €60,000 10% €60,000 plus 10.5% Up to €32,000 Exempt €32,000 to €60,000 6.66% €60,000 plus 7% Up to €34,500 Exempt €34,500 to €60,000 3.33% €60,000 plus 3.5% Up to €28,750 Exempt €28,750 to €60,000 10% €60,000 plus 10.5%

Additional Superannuation Contribution. 6.1.1. The parties Parties note that the Government intends to introduce legislation to give effect to the public service pay proposals above. In doing so, and taking account of the analysis provided by the Public Service Pay Commission, the Government has indicated the proposed legislation will provide for the conversion of the existing Pension Related Deduction (PRD) provided for under the Financial Emergency Measures in the Public Interest Act, 2009 (as amended) into a permanent Additional Superannuation Contribution (ASC). 6.1.2. This new contribution will be in addition to the existing superannuation contribution made by public servants currently and will apply to pensionable remuneration only from 1 January 2019. This is intended to underpin the sustainability of public service pensions 6.1.3. In addition to the pay adjustments provided for above, the present thresholds, bands and rates in respect of the Pension Related Deduction will be modified in conversion to the Additional Superannuation Contribution (ASC) to reflect the differentiated pension benefits accruing to public servants in accordance with the following tables: Up to €32,000 Exempt €32,000 to €60,000 10% €60,000 plus 10.5% Up to €34,500 Exempt €34,500 to €60,000 10% €60,000 plus 10.5% Up to €32,000 Exempt €32,000 to €60,000 6.66% €60,000 plus 7% Up to €34,500 Exempt €34,500 to €60,000 3.33% €60,000 plus 3.5% Up to €28,750 Exempt €28,750 to €60,000 10% €60,000 plus 10.5%