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PART 3
Public Service Pension Reduction
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Amendment of section 2 of Act of 2010
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25. (1) Section 2 (inserted by the Act of 2015) of the Act of 2010 is amended in subsection (2)—
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(a) by the substitution of “€39,000” for “€34,132”,
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(b) by the substitution, in subparagraph (i), of “the following subparagraphs” for “subparagraphs (ii) and (iii)”,
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(c) by the substitution, in subparagraph (ii), of “the following subparagraphs” for “subparagraph (iii)” and the substitution of “subsection,” for “subsection, and”,
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(d) in subparagraph (iii)—
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(i) by the insertion, after “1 January 2018”, of “and subject to the following subparagraphs”, and
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(ii) by the substitution of “subsection,” for “subsection.”,
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(e) by the insertion of the following after subparagraph (iii)—
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“(iv) with effect on and from 1 January 2019 and subject to subparagraph (v), in accordance with Table D to this subsection, and
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(v) with effect on and from 1 January 2020, in accordance with Table E to this subsection.”,
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and
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(f) by the insertion of the following after Table C to that subsection:
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“TABLE D
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Annualised amount of public service pension
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Reduction
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Up to €39,000
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Exempt
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Any amount over €39,000 but not over €60,000
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12 per cent
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Any amount over €60,000 but not over €100,000
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17 per cent
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Any amount over €100,000
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28 per cent
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TABLE E
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Annualised amount of public service pension
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Reduction
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Up to €54,000
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Exempt
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Any amount over €54,000 but not over €60,000
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12 per cent
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Any amount over €60,000 but not over €100,000
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17 per cent
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Any amount over €100,000
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28 per cent
”.
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(2) This section shall come into operation on 1 January 2019.
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