Salary Deduction at Source
Salary Deduction at Source for PSCU Members
Working together for your financial peace of mind.
What is Salary Deduction at Source?
Deduction at source, also known as salary deduction, allows members of the Public Service Credit Union (PSCU) to choose and set specific amounts to be automatically taken from their salary and sent to their credit union account each time they are paid.
Once a member’s application to join the PSCU has been approved, they can download and complete the Salary Deduction at Source Form if their department facilitates this arrangement with the PSCU.
How to Set Up a Salary Deduction at Source
Simply download here ensuring you include the following details:
- Your PSCU member number
- Your Personnel/Employee Number
- The Department you work for/name of your employer
Once PSCU has your form, we will send it to your Payroll Department to be applied as per your instructions. If your department supports salary deduction, the deductions will be made directly from your salary and transferred to your PSCU account.
Considerations for Salary Deduction at Source Form
- Family Member Allocations: If you wish to allocate funds to family members, you can specify these allocations on the deduction at source form. This ensures that the desired portion of your deduction is distributed to them as directed.
- Loan Overpayments: If you intend to overpay on a loan, you can also indicate this on the form. Simply specify how you want your deduction distributed, and PSCU will note this for when the deduction comes through.
Important Points to Note:
Activation Time
After submitting your deduction at source form, it may take two to three weeks for the deduction to be implemented by your Payroll Department. We advise all members to monitor their payslips during this period to ensure the deductions are being processed as per your instructions.
Total Deduction Amount
At any point, you can increase the amounts deducted. If you want to increase part of your deduction (perhaps for a loan or to savings), make sure to write the full new total amount on the form. Don’t just add the extra amount, include the entire new total to avoid any confusion.
By following these guidelines, you can ensure a smooth and efficient process for setting up your salary deduction with PSCU.
