Dáil Éireann Debate, Tuesday - 18 June 2013
169. Deputy Michael Creed asked the Minister for Public Expenditure and Reform if he will confirm that the 20% levy applying to public service pensions in excess of €100,000 is applicable when pension holders are in receipt of more than one public service pension or when the combined total of pensions exceeds €100,000; and if he will make a statement on the matter. [28880/13]
Amharc ar fhreagraI understand that the Deputy is referring to the Public Service Pension Reduction (PSPR), which at present applies at a rate of 20% on that part of an affected public service pension which is above €100,000.
That 20% PSPR rate is due to rise to 28% on 1 July 2013, reflecting changes made in the Financial Emergency Measures in the Public Interest Act 2013.
I can confirm for the Deputy that it is my intention that holders of multiple public service pensions with a combined value of €100,000 whose pensions are currently subject to PSPR will have PSPR applied to their total public service pension amount, including the application of the 28% rate above €100,000.
This application of PSPR based on combined or aggregated pensions in respect of these pensioners will proceed from a date to be set by order of the Minister for Public Expenditure and Reform as provided for in the Financial Emergency Measures in the Public Interest Act 2010, as amended by the Public Service Pensions (Single Scheme and Other Provisions) Act 2012. I expect to sign an order very soon setting an early commencement date for this aggregation of public service pensions for PSPR purposes.
