Public Service Pension - nett amount per fortnight.....?

M

Mebs

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I am a teacher and so is my wife. I and currently considering retirement in August.

My wife isn't retirement age yet and must work for a few years more. Her current salary is about €66,000 per year.

My retirement gross salary would be about €29,000. Divided by 26.07, that would give me a gross pension amount of €1,112 per fortnight.

Given that we are jointly assessed, what deductions would I have per fortnight and what would my nett pension per fortnight be?

Thanks in advance.
 
Input your details into a tax calculator such as http://services.deloitte.ie/tc/ and you'll get a fairly clear picture. Remember you'll have to pay USC but not PRSI on an occupational pension.

Time's running out for making your decision...I think this day fortnight would be your deadline for notifying the school in writing.
 
oysterman said:
Input your details into a tax calculator such as http://services.deloitte.ie/tc/ and you'll get a fairly clear picture. Remember you'll have to pay USC but not PRSI on an occupational pension.

Time's running out for making your decision...I think this day fortnight would be your deadline for notifying the school in writing.
Click to expand...

Thanks for the reply, Oysterman.

I'm aware of the deadline. I'll decide in the next day or two.
 
This is a very good calculator also. For nett pension calculations, enter the gross pension as income and disregard the PRSI deduction (I think).
 
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