Written answers

Tuesday, 3 December 2019

Department of Public Expenditure and Reform

Superannuation Schemes

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

148. To ask the Minister for Public Expenditure and Reform if a matter raised in correspondence by a person (details supplied) in County Cork in relation to superannuation pensions policy will be addressed; and if he will make a statement on the matter. [49802/19]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Additional Superannuation Contribution (ASC) is provided for under Part 4 of the Public Service Pay and Pensions Act 2017. Section 33 (1) defines a "relevant person" as follows:

33.(1) This section applies to a person--

(a) who--

(i) is a public servant on 1 January 2019, or

(ii) is not a public servant on that date but after that date is appointed or otherwise becomes a public servant,

(b) who, on 1 January 2019 or at any time afterwards, is a member of a public service pension scheme and

(c) who is a covered public servant.

(2) In this section, a person to whom this section applies is referred to as a "relevant person".

As the individual continues to be a member of a public service pension scheme he continues to be liable for ASC. Furthermore, the pension of a member of a pre-existing public service pension scheme is a function of two factors: Service to a maximum of 40 years and the final pensionable remuneration at date of retirement. In this regard they continue to accrue a pension benefit until they finally retire including by virtue of the fact that final pensionable remuneration is not determined until the point of retirement.


No comments

Log in or join to post a public comment.