Latest News

Below you will find all the latest news and updates from IAPF.  

E-Update 10 October 2017

10/10/2017 Posted by IAPF | Comments(0)

As had been largely expected, there were no announcements in relation to pensions in today’s budget other than the €5 weekly increase in the highest rate of State Pension. This increase will take effect from the last week of March 2018 and bring the highest rate to €243.30 per week. Lower rates apply to those who do not meet the average PRSI contributions requirements.

The Government also announced that a new group will be established to consider the amalgamation of USC and PRSI. This could have implications for pensioners who are not liable to PRSI but are to USC.

A consultation document has also been published in relation to the establishment of a Rainy Day Fund. This does not appear to address the long-term pension funding issues for which the National Pensions Reserve Fund was established.

The Finance Bill will be published on Thursday October 19th and we will monitor that for any additional issues that might arise.

 

Revenue Pensions Manual

Revenue have updated the Pensions Manual to include details on how guaranteed pension increases should be calculated and to reflect the current USC rate applicable to encashment amounts in accordance with section 531AN(3A)(a) of the Taxes Consolidation Act 1997. You can link to the Revenue eBrief here.

Add a Comment

Name:
Email:
Notify of New Replies:
Add a new comment:

Important information regarding cookies

This site requires cookies, which are small text files that the site puts on your computer, to operate. These cookies help us provide a better service to you. We use these cookies to track general user traffic information and to help the site function properly. Cookies are used by approximately 92% of all sites on the internet.