Automatic Enrolment Retirement Savings System Act 2024
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Contributions | ||
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58. (1) In the case of each contributing participant— | ||
(a) a participant contribution, | ||
(b) an employer contribution, and | ||
(c) a State contribution, | ||
shall, subject to subsection (3), be paid to the Authority at the appropriate rate on the participant’s gross pay in relation to each payment of emoluments in each employment that is not an exempt employment. | ||
(2) The appropriate rate of any contribution is the rate determined by section 61 . | ||
(3) Where a payment of emoluments is made to a participant on any day in a financial year, no contribution is payable on so much of the participant’s gross pay in relation to that payment as, taken with the participant’s total gross pay, in all employments that are not exempt employments, in the part of the financial year before that day, exceeds€80,000. | ||
(4) The information necessary for the calculation and payment of contributions payable under this section shall be notified by the Authority— | ||
(a) by a payroll notification to the employer, in the case of participant contributions and employer contributions, and | ||
(b) by a notification under section 60 to the Minister, in the case of State contributions. | ||
(5) A payroll notification or notification under section 60 may include, in the calculation of contributions to which it relates, an adjustment for any error in the amount of past contributions. |