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Public sector pension levy refund

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  • 07-01-2014 11:02pm
    #1
    awec
    Administrators Posts: 53,803 Admin ✭✭✭✭✭


    A friend of mine is considering taking contracted (non-permanent) employment in the public sector and is trying to understand more about the pension levy.

    His salary will be ~40,000 euro a year.

    Firstly, does anyone have a rough figure of how much the levy is likely to take from his wages? Is it before tax or after tax?

    Also, he read somewhere that apparently you get the money paid toward the levy back if you work there for less than 2 years, and you don't move to another public sector position? Can anyone tell me if this is true or nonsense?


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    #2
    highgiant1985
    Registered Users Posts: 1,777 ✭✭✭highgiant1985


    awec wrote: »
    A friend of mine is considering taking contracted (non-permanent) employment in the public sector and is trying to understand more about the pension levy.

    His salary will be ~40,000 euro a year.

    Firstly, does anyone have a rough figure of how much the levy is likely to take from his wages? Is it before tax or after tax?

    Also, he read somewhere that apparently you get the money paid toward the levy back if you work there for less than 2 years, and you don't move to another public sector position? Can anyone tell me if this is true or nonsense?

    i) thresholds for 2014 are

    below 15000 -- exempt
    15000 - 20000 -- 2.5%
    20000 - 60000 -- 10%
    above 60000 -- 10.5%

    someone else might do the actual calculation for you. also yes you do get tax relief on this.

    ii) yes if leaving with in 2 years and not moving to another public sector role and not keeping any pension benefit you are entitled to have PRD contributions to be refunded.


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