Additional Superannuation Contribution

What Is The Additional Superannuation Contribution ?

With effect from 01/01/2019 a pension levy PRD will no longer apply after 2018. It is now replaced by a permanent pension contribution, the Additional Superannuation Contribution (ASC) payable by Public Sector employees on their pensionable pay.

ASC will only apply to individuals who are accruing pensionable benefits in respect of their current employment.

ASC is charged at different rates with different threshold bands depending on the pension scheme a person is a member of and the pension terms applying to such membership.

For further information on the ASC  please click link below:

https://circulars.gov.ie/pdf/circular/per/2018/21.pdf

Member of a standard accrual pension scheme:
Remuneration up to €32,000 p.a. – Exempt
Remuneration greater than €32,000 but not over €60,000 – 10%
Remuneration greater than €60,000 p.a. – 10.5%

Member of the Single Pension Scheme:
Remuneration up to €32,000 p.a. – Exempt
Remuneration greater than €32,000 but not over €60,000 – 6.66%
Remuneration greater than €60,000 p.a. – 7%

 

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