Have you already retired or are you just about to?

How is my Pension Taxed?

All pensions are subject to Income Tax and Universal Social Charge (USC) deduction on the PAYE basis. You will, therefore, require a Certificate of Tax Credits in respect of pension payments. If you have not already done this then the appropriate Certificate is available from your local tax office. Until we receive your updated Tax Credit Certificate from the Revenue, you will be taxed on an emergency tax basis. Please note that the following are the contact details for the Inspector of Taxes for each region.

If you live in Dublin please phone:    

1890 33 34 25

If you live in Clare, Cork, Kerry or Limerick please phone:

1890 22 24 25

If you live in Carlow, Kildare, Kilkenny, Laois, Meath, Tipperary, Waterford, Wexford or Wicklow please phone:

 1890 44 44 25

If you live in Cavan, Donegal, Galway, Leitrim, Longford, Louth, Mayo, Monaghan, Offaly, Roscommon, Sligo or Westmeath please phone:

1890 77 74 25

If you are phoning from outside of Ireland please contact:

Phone: +353 1 647 4444

It may be of assistance to note that the Registered Employer’s Number of the Pension Scheme is 0065485S.

The Universal Social Charge is a tax payable on gross income from all sources if the total exceeds €13,000 per annum (not including Dept. of Social Protection Payments).

With effect from 1 January 2012 The Universal Social Charge individual deduction rates are now issued by revenue and are included on your tax credit certificate. If you have any query relating to the amount of USC deducted please contact your local tax office to query or update your details.

The Standard rates of Universal Social Charge for 2018 are:

  • 0.5% on the first €12,012 per annum
  • 2% on the next €7,360 per annum
  • 4.75% on income above €19,372 per annum to a total of €70,044 per annum
  • 8% on all income above €70,044 per annum.

However, these standard rates are modified in certain circumstances.

  • In the case of Individuals aged 70 or over and individuals who hold full medical cards, 0.5% is payable on the first €12,012 and the 2% rate applies to the balance of all income over €12,012 per annum.
  • Individuals in receipt of an Exclusion Order i.e.those that live outside of the state, in a country that has a double taxation agreement with Ireland.

How is my Pension Paid?

Details of your own pension amount and start date will be provided by the administration in your retirement letter. Our pensions are paid on the first of each month and payments are in advance. For example, your payment on the 1st June is in respect of June.  Payments will be made direct to your bank account with a payslip issued to your home address. 

When will I get my P60?

P60s will be automatically issued to your home address by the end of February each year. Please note that this is an important document and may be required by the Revenue.

What if I have any other questions?

Please take a look at our Frequently Asked Questions and if that doesn't help, contact our pension payroll department on (01) 407 1458 or send us your query here.

Frequently Asked Questions

For a list of our most commonly asked questions, visit our FAQs

+353 1 407 1430

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