Pension Levy Calculation....Mistake??

K

kceire

Registered User
Messages
446
Can anybody work out the pension levy figures for my salary?
i will provide it all by PM if required.

i was hit yesterday, and while we have no problems as such with it and doing our bit and all that etc etc, i realised i am payng €20 more than some people who would be earning maybe 5-6k more than me.

Using all the calculators out there, i seem to have been over charged?

we are both on the higher rate of tax, but below 40k salary.

can anybody help me understand this?

thanks.
 
Is it possible there are arrears from last week? If you're paid weekly, the first deduction should have showed up last week - about 4 days' worth of it - and that could explain the anomaly. The deduction should then go to the normal rate from next week on.
 
Dreamerb said:
Is it possible there are arrears from last week? If you're paid weekly, the first deduction should have showed up last week - about 4 days' worth of it - and that could explain the anomaly. The deduction should then go to the normal rate from next week on.
Click to expand...

thanks for the reply.
im paid forthnightly, and this is the first pay day since it was introduced on March 1st.

could very well be arrears, so i guess i should hang on until my next pay day to compare slips?
 
Actually, in that case it should not have arrears; it should actually be a day or two lower than usual.

When you say you're paying more, is it gross or net? I could understand a minor anomaly if it's net (for example, if you're just on the margin of the higher tax rate and it does not all attract the higher rate of relief), but if it's a difference in the gross deduction something sounds wrong. If you've arranged your tax-free allowances so that you have the bulk of them and if your spouse is in the private sector, it may now make sense to re-assign those allowances to maximise the tax relief on the pension levy. This would depend on what pension contribs the spouse is making and so on, but is worth considering and perhaps running the numbers on.

If you want to PM me re the current level of deduction (not the broader issue - that's far too specialist), feel free: I'm no expert, but I'm reasonably good at making sense of these things!
 
Dreamerb said:
Actually, in that case it should not have arrears; it should actually be a day or two lower than usual.

When you say you're paying more, is it gross or net? I could understand a minor anomaly if it's net (for example, if you're just on the margin of the higher tax rate and it does not all attract the higher rate of relief), but if it's a difference in the gross deduction something sounds wrong. If you've arranged your tax-free allowances so that you have the bulk of them and if your spouse is in the private sector, it may now make sense to re-assign those allowances to maximise the tax relief on the pension levy. This would depend on what pension contribs the spouse is making and so on, but is worth considering and perhaps running the numbers on.

If you want to PM me re the current level of deduction (not the broader issue - that's far too specialist), feel free: I'm no expert, but I'm reasonably good at making sense of these things!
Click to expand...

im classifed as a single person, but living with my GF who doesnt work (starting next week with ESB).

one of the other guys, who started in the same week as me, and earns the exact same salary as me says they took €103 gross, but he doesnt have his slip on him to check what the nett effect is, where they took €96 gross on me, and €71 nett from my salary compared to two weeks ago.

edit - PM on the way.
 
Send you a PM. Seems odd that the other guy would have a different amount - possibly explainable if there was overtime, though, because that's subject to the levy. Even though it isn't pensionable. Or maybe he stole a march on you, argued for an extra point on an incremental scale, and has never admitted it!

[I'm not really serious, but those sorts of things have been very contentious in the past. Random worker: "She's paid more than me and we started at the same time!" Personnel: "Yes, but she had three years' experience in company X and a relevant post-grad qualification." Random worker: "It's still not fair, because, well just because!"... and it just goes downhill from there. You get the idea!]
 
Dreamerb said:
Send you a PM. Seems odd that the other guy would have a different amount - possibly explainable if there was overtime, though, because that's subject to the levy. Even though it isn't pensionable. Or maybe he stole a march on you, argued for an extra point on an incremental scale, and has never admitted it!

[I'm not really serious, but those sorts of things have been very contentious in the past. Random worker: "She's paid more than me and we started at the same time!" Personnel: "Yes, but she had three years' experience in company X and a relevant post-grad qualification." Random worker: "It's still not fair, because, well just because!"... and it just goes downhill from there. You get the idea!]
Click to expand...


ha ha, yeah i see your point!
as per your PM, you seem to have hit the nail on the head. because i get relief at the lower level of tax, the fella beside me earning 7.5k more, pays less of a levy!!!!!

were not shy in here, we show each other our payslips and that, and there no begrudgery as we know its a government implimented levy!

although, just prooves the point that it hits the poorer more than the rich!

thanks.
 
You must log in or register to reply here.
Back
Top