In 2022, the Government announced as part of its Building Momentum pay agreement, that all Public Sector workers in Ireland would receive a 7.5% pay increase by 1st October 2023.
You may have noticed on your payslip the initial 3% increase which came into effect from 1st October 2022 and was backdated to 2nd February 2022. This was in addition to 1% (or €500 whichever is greater) which also came into effect from 1st October 2022 agreed under the original Building Momentum agreement.
The next increase of 2% will be applied from 1st March 2023 with a further 1.5% (or €750 whichever is greater) from 1st October 2023.
We have taken a few various salary examples as a guide only, but for full details on the increases relative to your salary scale please visit your union website.
An Additional Voluntary Contribution (AVC) is a tax-efficient way to save for retirement. As there’s tax relief on an AVC, you pay €100 into your account... but it only costs you €60!* This means you’re getting the full value of your €100 instead of only seeing €60 and paying €40 in tax.
Why not use the additional €100 per month to ensure your income is protected? Income Protection provides you with a replacement income if you become ill or injured and cannot work. What’s more, Cornmarket administered Group Protection Plans are created with members in mind and offer far more than just Income Protection!
Whether it’s helping to fund your child’s education, building that extension, or going on that dream holiday, saving using traditional methods such as a savings account won’t maximise your saving potential. Savings Plus will make your money work for you and reach its maximum potential.
When life changes, so too does your Life Cover needs. That’s why we look at the 3 M’s of Life Cover: Mortgage, Marriage and Maternity. Any one of these will change the Life Cover you need. And when we say Life Cover – this includes Life Insurance, Mortgage Protection and Specified Illness Cover.
Your appointment with a dedicated consultant can take place in the comfort of your own home… via video call or in person, where we will go over all the options suitable for you!
Call (01) 420 0978
We'll ensure your future is financially secure and suggest ways to make the most of your money.
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Read moreWe've helped Public Sector workers with their finances for over 50 years. We understand your needs. Whatever your age or stage, we'll find the right financial product for you, across car, home, health and life insurance to income protection, retirement planning and more.
Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: If you invest in this product you will not have any access to your money until you receive your Superannuation Benefits.
*Assuming 40% income tax relief on a regular contribution of €100. If you receive tax relief at 20% then €100 in your account will cost, you €80. Assumes there is no contribution charge on a regular premium payment - please check your Scheme to confirm actual charges. If your contributions are not taken directly from salary, then you will need to file a tax return to claim the tax relief.