Worst hit public sector workers earn €38,000

[Chrisco]

The Dept. of Finance has supplied a handy spreadsheet to let you know how much worse off you are going to be as a result of the pension levy. What it shows is that for a single Civil Servant, those earning €38,000 pay an effective levy of 5% on their gross pay, which drops away after this level, and doesn't hit 5% again until you are earning €97,000.

So, those earning between €38,001 and €96,999 pay a lower % in levy than someone on €38,000.

Someone on €30,000 pays the same effective rate (4.3%) as someone on €57,000.

Those earning between €38,001 and €48,000 pay less levy in real terms and not just as a percentage than those on €38,000.

http://www.finance.gov.ie/documents/...9/bl066cal.xls

Very fair...

[wysiwyg]

The Dept. of Finance has supplied a handy spreadsheet to let you know how much worse off you are going to be as a result of the pension levy. What it shows is that for a single Civil Servant, those earning €38,000 pay an effective levy of 5% on their gross pay, which drops away after this level, and doesn't hit 5% again until you are earning €97,000.

So, those earning between €38,001 and €96,999 pay a lower % in levy than someone on €38,000.

Someone on €30,000 pays the same effective rate (4.3%) as someone on €57,000.

Those earning between €38,001 and €48,000 pay less levy in real terms and not just as a percentage than those on €38,000.

http://www.finance.gov.ie/documents/...9/bl066cal.xls


Very fair...

Excellent post Crisco..

38k huh.. the average industrial wage.. gets the hardest hit

[odie1kanobe]

Why are they getting an increment as well as annual pay rise ?

[Chrisco]

A Executive Officer on the 4th point earns €38,083.

Their automatic annual increment (if paid) would bring them up to €39,825.

Which is a pay rise of 4.6%.

So they're 0.4% down on the year overall. Hardly cause for all this hand-wringing?

And how does it compare to someone earning twice that amount?

[revereie]

So they're paying more into their pension so what ?

At least they can afford to ! How great is the % of people in the private sector with defined benefit schemes - I don't know but IMHO its certainly less than 10%.

How many in the private sector have defined contribution schemes ? Again much lower than the public sector !

And how many workers in the public sector are in underfunded pension schemes compared with the private sector ? Answer is Nil !

[revereie]

Also I note that the General Officers of the Unions earn more than €100k per annum ... ...

[Chrisco]

So they're paying more into their pension so what ?

At least they can afford to ! How great is the % of people in the private sector with defined benefit schemes - I don't know but IMHO its certainly less than 10%.

How many in the private sector have defined contribution schemes ? Again much lower than the public sector !

And how many workers in the public sector are in underfunded pension schemes compared with the private sector ? Answer is Nil !

None of which means that the government's plan is fair or progressive.

!

[White Horse]

Also I note that the General Officers of the Unions earn more than €100k per annum ... ...

Fat cats

[Chrisco]

It's nice to see the Irish Times frequents itself in this parish... They posted a link to the spreadsheet half an hour after I posted it!

[Coggy]

So they're paying more into their pension so what ?

At least they can afford to ! How great is the % of people in the private sector with defined benefit schemes - I don't know but IMHO its certainly less than 10%.

How many in the private sector have defined contribution schemes ? Again much lower than the public sector !

And how many workers in the public sector are in underfunded pension schemes compared with the private sector ? Answer is Nil !

Stop trying to tell people you and your party give a sh*t about workers for logics sake come off it .