Thursday September 24, 2020

The great pension raid

This week marks the deadline for pension schemes to hand over Euro 700 million in pension levy payments to Revenue. Will this temporary' levy be here to stay?

21st September, 2014
Last year's budget saw Minister for Finance Michael Noonan renege on his pledge to end the pension levy in 2014, instead increasing the levy on pension funds this year and extending the levy for an extra year.

By the end of this week, the value of private pensions will have fallen by hundreds of millions of euro, as the government dips into the pension pots of retirement savers.

Close to €700 million will be wiped off private pension funds by September 25, which is the deadline for pension schemes to hand over payment of a government levy on pensions to the Revenue Commissioners.

The levy of 0.6 per cent on the value of...

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