Public Service Pay and Pensions Act 2017

25

Amendment of section 2 of Act of 2010

25. (1) Section 2 (inserted by the Act of 2015) of the Act of 2010 is amended in subsection (2)—

(a) by the substitution of “ €39,000” for “ €34,132”,

(b) by the substitution, in subparagraph (i), of “the following subparagraphs” for “subparagraphs (ii) and (iii)”,

(c) by the substitution, in subparagraph (ii), of “the following subparagraphs” for “subparagraph (iii)” and the substitution of “subsection,” for “subsection, and”,

(d) in subparagraph (iii)—

(i) by the insertion, after “1 January 2018”, of “and subject to the following subparagraphs”, and

(ii) by the substitution of “subsection,” for “subsection.”,

(e) by the insertion of the following after subparagraph (iii)—

“(iv) with effect on and from 1 January 2019 and subject to subparagraph (v), in accordance with Table D to this subsection, and

(v) with effect on and from 1 January 2020, in accordance with Table E to this subsection.”,

and

(f) by the insertion of the following after Table C to that subsection:

“TABLE D

Annualised amount of public service pension

Reduction

Up to €39,000

Exempt

Any amount over €39,000 but not over €60,000

12 per cent

Any amount over €60,000 but not over €100,000

17 per cent

Any amount over €100,000

28 per cent

TABLE E

Annualised amount of public service pension

Reduction

Up to €54,000

Exempt

Any amount over €54,000 but not over €60,000

12 per cent

Any amount over €60,000 but not over €100,000

17 per cent

Any amount over €100,000

28 per cent

”.

(2) This section shall come into operation on 1 January 2019.