Monday October 26, 2020

Money on the move

With CGT and Dirt both increased by the Minister for Finance, pensions will now be looking even more attractive than the 'old reliable' investments, writes Jon Ihle.

9th December, 2012
Financial advisers are expecting inflows to pensions in the next year. Photo: Maura Hickey

Savers and investors - especially high net worth individuals - are likely to start moving money from cash holdings and direct investments into pension funds and other tax-efficient structures following changes announced in last week's budget, according to financial advisers.

Higher taxes on interest income and capital gains - plus clarity on how the pensions regime will operate in the coming years - have created greater incentives for investors to favour retirement schemes, where contributions...

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