Dáil Éireann Debate, Tuesday - 24 January 2023
277. Deputy Neasa Hourigan asked the Minister for Public Expenditure and Reform if he plans any changes to the additional superannuation contribution for public servants; and if he will make a statement on the matter. [3163/23]
View answerAdditional Superannuation Contribution (ASC) is provided for under the Public Service Pay and Pensions Act 2017 (No. 34 of 2017) - the “2017 Act” and is a statutory deduction. ASC is chargeable on pensionable remuneration of pensionable public servants and different rates apply depending on whether a public servant is a member of a standard accrual pension scheme, a fast accrual pension scheme or the Single Public Service Pension Scheme.
ASC secures substantial funding towards the cost of public service pensions. This permanent source of revenue helps to defray the cost of providing pensions to public servants into the future and places public service pensions on a more sustainable footing in light of the significant accrued liabilities that exist.
There are currently no plans to change ASC and the applicable rates remain as provided for in the 2017 Act.
