4% 3.50% €19,964 €798.56 €17,988 €629.58 €168.98 TOTAL €189.52 Pension Rate Cost Rate Cost Saving 2% 1.5% €31,000 €10,036 €200.72 €12,012 €180.18 €20.54 4% 3.50% €20,964 €838.56 €18,988 €664.58 €173.98 TOTAL €194.52 Pension Rate Cost Rate Cost Saving 2% 1.5% €32,000 €10,036 €200.72 €12,012 €180.18 €20.54 4% 3.50% €21,964 €878.56 €19,988 €699.58 €178.98 TOTAL €199.52 Pension Rate Cost Rate Cost Saving 2% 1.5% €33,000 €10,036 €200.72 €12,012 €180.18 €20.54 4% 3.50% €22,964 €918.56 €20,988 €734.58 €183.98 TOTAL €204.52 You will notice that every increase in pension increases the saving by €1000.00 €5.00. This pattern continues as the scale of the pension increases. That is €1000@.5%=€5.00 It at when the 7% rate kicks in as it does in 2014. €60,000.00 Income Tax Changes 2014 2015 Rate Rate Single/Widowed/Surviving Civil Partner 20% 20% €32,800 €33,800 Balance 41% Balance 40% Single/Widowed/Surviving Civil Partner with dependent child 20% 20% €36,800 €37,800 Balance 41% Balance 40% Married One Spouse/Civil Partner with Income 20% 20% €41,800 €42,800 Balance 41% Balance 40% Married Both Spouses/Civil Partners with Income 20% 20% €41,800 €42,800 Additional (Max) 41% 20% €23,800 €24,800 Balance 41% Balance 40% Example: Single/Widowed/Surviving Civil Partner The first point to note is that there is no tax saving if your pension is under €32,800.00 2014 2015 Saving Rate Rate
€19,964 4% €798.56 €17,988 3.50% €629.58 €168.98 TOTAL €189.52 Pension Rate Cost Rate Cost Saving €31,000 €10,036 2% €200.72 €12,012 1.5% €180.18 €20.54 €20,964 4% €838.56 €18,988 3.50% €664.58 €173.98 TOTAL €194.52 Pension Rate Cost Rate Cost Saving €32,000 €10,036 2% €200.72 €12,012 1.5% €180.18 €20.54 €21,964 4% €878.56 €19,988 3.50% €699.58 €178.98 TOTAL €199.52 Pension Rate Cost Rate Cost Saving €33,000 €10,036 2% €200.72 €12,012 1.5% €180.18 €20.54 €22,964 4% €918.56 €20,988 3.50% €734.58 €183.98 TOTAL €204.52 You will notice that every €1000.00 increase in pension increases the saving by €5.00. This pattern continues as the scale of the pension increases. That is €1000@.5%=€5.00 It at €60,000.00 when the 7% rate kicks in as it does in 2014. Income Tax Changes 2014 2015 Rate Rate Single/Widowed/Surviving Civil Partner €32,800 20% €33,800 20% Balance 41% Balance 40% Single/Widowed/Surviving Civil Partner with dependent child €36,800 20% €37,800 20% Balance 41% Balance 40% Married One Spouse/Civil Partner with Income €41,800 20% €42,800 20% Balance 41% Balance 40% Married Both Spouses/Civil Partners with Income €41,800 20% €42,800 20% Additional (Max) €23,800 41% €24,800 20% Balance 41% Balance 40% Example: Single/Widowed/Surviving Civil Partner The first point to note is that there is no tax saving if your pension is under €32,800.00 2014 2015 Saving Rate Rate