Sample Pension / Gratuity pre and post 1 March 2012 Sample Case: Sergeant aged 50yrs. With 30 years service

Pensionable Pay Pre 1/3/’12 Basic Pay 54, Basic Pay 54, Allowances 17, Allowances 17, Total Pensionable Pay 72, Total Pensionable Pay 72, Lump Sum Gratuity Gross 108, Lump Sum Gratuity Gross 108, Less Deduction (deductable) 10, Less Deduction (deductable) 10, Lump Gratuity net deduction 97, Lump Gratuity net deduction 97,741.85

Pensionable Pay post 1/3/’12 Basic Pay 51, Basic Pay 51, Allowances 16, Allowances 16, Total Pensionable Pay 67, Total Pensionable Pay 67, Lump Sum Gratuity Gross 101, Lump Sum Gratuity Gross 101, Less Deduction (deductable) 10, Less Deduction (deductable) 10, Lump Gratuity net deduction 91, Lump Gratuity net deduction 91, Difference pre / post 1/3/’12 5, Difference pre / post 1/3/’12 5,992.25

Pension per Annum pre 1/3/’12 Pension Gross 36, Pension Gross 36, P.S.P.R. (budget 2011) -1, P.S.P.R. (budget 2011) -1, Nett of P.S.P.R. 34, Nett of P.S.P.R. 34, Universal Social Charge -1, Universal Social Charge -1, Pension nett of USC pre tax 32, Pension nett of USC pre tax 32,544.05

Pension per Annum post 1/3/’12 Pension Gross 33, Pension Gross 33, P.S.P.R. (budget 2011) 0.00 P.S.P.R. (budget 2011) 0.00 Nett of P.S.P.R. 33, Nett of P.S.P.R. 33, Universal Social Charge -1, Universal Social Charge -1, Pension nett of USC pre tax 32, Pension nett of USC pre tax 32, Difference pre / post 1/3/’ Difference pre / post 1/3/’

Public Service Pension Reduction Current PSPR rates are 0% on the first €12,000 of pension per annum, 6% on the next €12,000, 9% on the next €36,000 and 12% on the remainder Current PSPR rates are 0% on the first €12,000 of pension per annum, 6% on the next €12,000, 9% on the next €36,000 and 12% on the remainder Average of about 4.2% Average of about 4.2% Please watch Budget 2012 on December 6th Please watch Budget 2012 on December 6th

Universal Social Charge Current USC rates are 2% of the first €10,036 of pension per annum, 4% on the next €5,980 and 7% on the remainder Medical card holders do not go on the 7% scale Current USC rates are 2% of the first €10,036 of pension per annum, 4% on the next €5,980 and 7% on the remainder Medical card holders do not go on the 7% scale

Example only! Please note that the foregoing is an example only and that the circumstances of each officer could vary substantially from those in the example Please note that the foregoing is an example only and that the circumstances of each officer could vary substantially from those in the example

Budget 2012 Please refer to the Budget on 6 th. December 2011 for any possible changes to pensions or gratuities Please refer to the Budget on 6 th. December 2011 for any possible changes to pensions or gratuities Currently, gratuities under €200,000 are not subject to tax. Currently, gratuities under €200,000 are not subject to tax. This means gratuities of AGSI members are not subject to tax This means gratuities of AGSI members are not subject to tax Please note the €200,000 threshold includes combination of Garda / Private lump sum funds! Please note the €200,000 threshold includes combination of Garda / Private lump sum funds!

Questions / Comments Please, please no! Please, please no! I am not a pensions expert I am not a pensions expert Members should contact Pensions Section Killarney for their individual details Members should contact Pensions Section Killarney for their individual details Any decision to retire / not to retire is an individual one and should be well researched / retire only if YOU want to! Any decision to retire / not to retire is an individual one and should be well researched / retire only if YOU want to! Do not be panicked into retirement Do not be panicked into retirement