SSIA pension scheme contributors will lose out by €4,000

More than 330,000 middle-income earners who sign up to the government’s pension incentive scheme will lose out on as much as €4,000, or three times the amount of tax relief, because they are entitled to more tax relief under a normal pension.

10th March, 2007

More than 330,000 middle-income earners who sign up to the government’s pension incentive scheme will lose out on as much as €4,000, or three times the amount of tax relief, because they are entitled to more tax relief under a normal pension.

Under the incentive scheme, the government pays €1 for every €3 of savings from a Specials Savings Incentive Account (SSIA) invested in a pension, up to a maximum government contribution of €2,500.

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