Changes in tax relief could affect pensions

A move to lower tax relief on pension contributions could discourage anyone earning more than €35,000 from putting money away for their retirement, ac cording to a leading industry expert.

13th February, 2010

A move to lower tax relief on pension contributions could discourage anyone earning more than €35,000 from putting money away for their retirement, ac cording to a leading industry expert.

‘‘If the rate is moved to 33 per cent, anyone earning over €35,000 per annum will face a reduced incentive to make contributions and, at about €130,000 per annum, the incentive actually disappears,” said Joe Hanrahan, director and head of personal financial services at NCB...

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