Saturday November 28, 2020

State favours €60k pension income cap

The cabinet is leaning towards putting a cap on pension incomes of €60,000 as an alternative to cutting the top rate for tax relief on pension contributions.

4th November, 2012
2
Joan Burton supports a cap on pension incomes of €60,000. Photo: Photocall

The cabinet is now leaning towards putting a cap on pension incomes of €60,000 as an alternative to cutting the top rate for tax relief on pension contributions to 20 per cent.

The support of two Labour ministers –- Joan Burton and Brendan Howlin -– for a cap comes amid recent research by actuarial consultants Milliman showing that cutting the marginal rate of relief from 41 per cent to 20 per cent would particularly hit the...

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