Social Welfare and Automatic Enrolment Retirement Savings System (Amendment) Act 2025
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Amendment of Principal Act (disregard from income of participant contributions paid under section 59(1) of the Automatic Enrolment Retirement Savings System Act 2024) | ||
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16. (1) Section 227 of the Principal Act is amended, in the definition of “weekly family income” (amended by section 11 of the Social Welfare and Pensions Act 2011 ), by the insertion of the following paragraph after paragraph (aa): | ||
“(ab) any participant contribution deducted from emoluments (within the meaning of Part 3 of the Automatic Enrolment Retirement Savings System Act 2024 ) in accordance with section 59(1)(b) of that Act,”. | ||
(2) Part 4 of Schedule 3 to the Principal Act is amended, in Rule 1(2)(b)(v), by the substitution of the following subclause for subclause (I): | ||
“(I) An amount equal to the sum of the first €75 of any additional income (within the meaning of Rule 2) and 25 per cent of so much of that additional income as exceeds €75, when that additional income has been reduced by the aggregate of— | ||
(A) any allowable contribution referred to in Regulation 31 of the Income Tax (Employments) Regulations 2018 ( S.I. No. 345 of 2018 ), | ||
(B) any amount deducted from reckonable earnings under section 13 and regulations made under section 14, and | ||
(C) any participant contribution deducted from emoluments (within the meaning of Part 3 of the Automatic Enrolment Retirement Savings System Act 2024 ) in accordance with section 59(1)(b) of that Act,”. | ||
(3) This section comes into operation on 1 January 2026. |