MERCER
THE EIRCOM DEFINED BENEFIT PENSION SCHEMES AND EARLY RETIREMENT TRUST – PENSON PAYROLL SERVICE
FREQUENTLY ASKED QUESTIONS
Q1. Who is responsible for processing my occupational pension payments?
Answer. Mercer (Ireland) Limited commenced as payroll agents for the eircom Limited Superannuation Funds on 24th April 2014. Mercer, as payroll agents, will be responsible for ensuring that your pension is received on time and maintaining your tax and bank details.
The administration of the Superannuation Funds will continue to be managed by the Eircom Superannuation Division.
Q2: What are the payment terms of my pension?
The eircom Superannuation Scheme for those who retired before 11th April 2014
Answer. Your pension is paid in arrears and scheduled for payment fortnightly on every second Thursday. For example, the payment scheduled for 28th August covers the period 15th August to 28th August, inclusive.
Where a Thursday falls on a public holiday, you will receive payment on the previous working day.
The Early Retirement Trust for those who retired on or after 11th April 2014
Answer. Your pension is paid in arrears and scheduled for payment on the 15th of each month, covering the previous 30 days. For example, the payment scheduled for 15th October covers the period 16th September to
15th October, inclusive. Where the 15th falls on a weekend or public holiday, you will receive payment on the previous working day.
Q3. How is my payment issued?
Answer. Your payment is credited to your nominated bank account on the date outlined above. You can change your nominated account details by referring to the instructions in question 17 below.
Q4. How will I identify the payment to my bank account?
Answer. The narrative on your payment transaction will quote your Mercer payroll reference. We are working with our software providers and the Banks to ensure the transaction narrative as it appears on your account statement will include ‘Mercer’ in the description.
Q5. Is my pension subject to income tax?
Answer. All occupational pension income is subject to Pay As You Earn tax (PAYE) and Universal Social Charge (USC). Local Property Tax (LPT) may also be deducted from your pension if we receive instructions from Revenue to do so.
Occupational pensions are exempt from Pay Related Social Insurance
(PRSI).
Q6. How are PAYE and USC calculated?
Answer. Pay As You Earn tax (PAYE) and Universal Social Charge (USC) are calculated based on the tax relief you are granted in the form of the standard rate cut-off point (SRCOP) and tax credits. These are detailed in your Certificate of Tax Credits (P2C), which is issued by Revenue.
Q7. What are SRCOP and tax credits?
Answer: SRCOP; The standard rate cut-off point (SRCOP) is the amount you can earn before being taxed at the higher rate. At present, the lower tax rate is 20% and the higher is 40%.
Tax credits
You are entitled to tax credits depending on your personal circumstances e.g. married person’s tax credit, employee (PAYE) tax credit etc. These tax credits reduce the tax calculated on your gross pay.
Q8. How is LPT deducted from my pension income?
Answer. If applicable, Local Property Tax (LPT) deductions are advised by Revenue using the Certificate of Tax Credits. The total amount payable is deducted over the number of payroll periods left for that tax year. For example, if we receive an LPT instruction from Revenue for €510 on 1st July, we will deduct €85 each month for six months (July to December).
Q9. How do I obtain a Certificate of Tax Credits if I have just retired?
Answer. You can obtain a Certificate of Tax Credits by contacting your local Revenue office or registering for the online service ‘PAYE Anytime’, which is available on the Revenue website, www.revenue.ie. Revenue will then forward us your tax relief details electronically via the Revenue On-Line Service (ROS).
In any correspondence with Revenue, you will need to quote both your Personal Public Service (PPS) number and our employer registration number, 0834206V. If you experience any difficulty obtaining a certificate of Tax Credits, please contact the Mercer Pension Payroll Department, who will be happy to help.
Alternatively, if you have just retired, you can forward your P45 to Revenue or Mercer, as outlined in question 14 below.
Q10. How is tax relief applied to my record?
Answer: The Certificate of Tax Credits we receive from Revenue via the Revenue On-Line Service (ROS) is applied to the payroll system electronically using your Personal Public Service (PPS) number. It is important to note that your Certificate details may not be applied if the PPS number on your record is incorrect. The PPS number we hold on your record 3 is quoted on the payslip issued to you with each payment. Please notify us as soon as possible if this number is incorrect.
Q11. What should I do if I don’t know my PPS number?
Answer: Personal Public Service (PPS) numbers are printed on the following documents and certificates:
- Social Services Card
- Drugs Payment Scheme Card
Payslip or payment advice note
P60
P45
Correspondence issued to you from Revenue and the Department of Social Protection.
If you cannot locate any of the above documents, contact your local social welfare office, who will confirm your number for you.
Q12. What should I do If I don’t have a PPS number?
Answer: The Department of Social Protection can issue you with a Personal Public Service (PPS) number. Please contact your local social welfare office, who can help you with your application. To find the address or contact number of your local office, consult the Department’s website, www.welfare.ie. You can also telephone the Department’s Client Identity Services helpline on 1890 927 999.
When you receive your PPS number, please forward it to both Revenue and the Mercer Pension Payroll Department. This will help ensure that all future Certificates of Tax Credits are issued under this PPS number and applied to your payroll record.
Q13. What should I do if my PPS number is my husband’s number with a W added to the end?
Answer: Historically, on marriage, a woman assumed her husband’s
Personal Public Service (PPS) number, with the letter “W” appended. This policy has since changed to ensure that every individual holds a unique PPS number.
Any holders of a PPS number ending with the letter “W” may telephone the Department of Social Protection’s Client Identity Services helpline on 1890 927 999 to obtain a new PPS number.
If you obtain a new PPS number, please forward it to both Revenue and the Mercer Pension Payroll Department. This will help ensure that all future Certificates of Tax Credits are issued under this new PPS number and applied to your payroll record.
Q14. When I retire, where should I send my P45?
Answer: Your P45 can be used to request a new Certificate of Tax Credits to help ensure Pay As You Earn tax (PAYE) is deducted at the correct rate from your monthly pension payment.
You can send the P45 (parts 2 and 3) directly to Revenue requesting that a Certificate of Tax Credits be issued under the Mercer registration number, 0834206V, or simply send it to the Mercer Pension Payroll Department and we will complete and submit it for you.
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You should retain part 4 of the P45 for your own records.
Q15. What should I do if I change my residential address?
Answer: Notify the Mercer Pension Payroll Department if you change your residential address to ensure we send your payslip and any other correspondence to your new location. Please note that any instruction to change your address must be made in writing. This is for security purposes.
Q16. What should I do if I change my bank account details?
Answer: If you wish to change your bank details please contact us and we will send you the appropriate form to complete and a postage-paid envelope.
It is possible that a payment may have been issued to your old account before we received your instruction.
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Please ensure you do not close your old account until you have received a payment from Mercer into your new one.
Q17. When can I expect to receive my annual P60?
Answer: Your P60 will be sent to you before the deadline of 14th February each year. For example, the P60 for the 2014 tax year will be issued to you on or before 14th February 2015.
Q18. How do I obtain a copy of a payslip/P60 for a previous tax year?
Answer: For payments issued by Mercer, you can request a copy of any payslip or P60 by telephoning our dedicated pensioner helpline on (01) 536 0804, or you can email your request to pensionpayroll@mercer.com. Any copies requested will be sent to the residential address held on your payroll record.
For payments issued by eircom, you will need to telephone the eircom administration team at pensions@eircom.ie or payrolladmin@eircom.ie.
Q19. Whom do I contact with a question about my monthly pension
payment?
Answer: All enquiries about your pension payments will be dealt with by the Mercer Pension Payroll Department. Please do not hesitate to telephone our dedicated pensioner helpline on (01) 536 0804, or you can email your enquiry to pensionpavroll(S)mercer.com.
Q20. Whom should I contact with details of someone who has passed away?
Answer: The eircom administration team will need to be informed about the death of anyone in receipt of retirement benefits. However, you can notify any member of the Mercer Pension Payroll Department and we will forward the information to eircom.
Q21. How do I contact the Mercer Pension Payroll Department with any other enquiries?
Answer: Our payroll team is happy to help with payment-related enquiries.
Our mailing address:
Mercer (Ireland) Ltd
Pension Payroll Department
Charlotte House, Charlemont Street
Dublin 2
Dedicated pensioner helpline: (01) 536 0804
Email: pensionpayroll@mercer.com
Edited April 2015 (V8)
