what is asc on payslip

what is asc on payslip

1 year ago 44
Nature

ASC on a payslip stands for Additional Superannuation Contribution. It is a permanent pension contribution payable in addition to existing pension contributions and attracting tax relief. ASC is a charge for Public Sector employees who are members of their public sector pension scheme. It is chargeable on all pensionable remuneration across multiple Public Service employers and is based on the combined pensionable remuneration in such employments. ASC replaced the Pension Related Deduction (PRD) in 2019. It is displayed separately on the employees payslip under the deductions section.

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