Dáil Éireann Debate, Tuesday - 4 November 2014
359. Deputy Aengus Ó Snodaigh asked the Minister for Public Expenditure and Reform the moneys raised to date from the pensions related deductions since it was introduced in 2009; the percentage rate at which it was recovered; the number of public servants affected; and the way that money was utilised. [41973/14]
View answerThe public service Pension-related Deduction (PRD), was introduced in March 2009 under the Financial Emergency Measures in the Public Interest Act 2009. The PRD has raised an estimated €5.5 billion since it was introduced.
|
Year |
Euro Amount (Millions) |
|
2009 |
837 |
|
2010 |
949 |
|
2011 |
960 |
|
2012 |
935 |
|
2013 |
923 |
|
2014 |
883 |
|
Total |
5,487 |
PRD reduced the cost of the public service pay bill by an estimated 6.1% in 2014. It is structured progressively insofar as it has a proportionately greater salary impact on higher paid public servants with deductions made in accordance with the following rates.
|
Pay Bands (€) |
PRD Rate |
|
0- 15,000 |
0% |
|
15,000-20,000 |
2.5% |
|
20,000-60,000 |
10% |
|
60,000+ |
10.5% |
All public service employees with gross pay (i.e. adjusted for work pattern) of more than €15,000 are impacted by the PRD.
The savings from the PRD have served and continue to serve as a critical element of the required national fiscal consolidation to meet the fiscal target of a deficit of less than 3% of GDP by 2015.
