True cost of pension levy grab

Pension experts and financial advisers are predicting the government’s new levy on private pensions will hurt retirement savings more than it will help jobs

14th May, 2011

Insolvent pension schemes; asset flight offshore; redundancies; pay cuts; loss of foreign direct investment the list of dangers presented by the government’s proposal to levy the capital in private pensions to fund its jobs initiative grows longer by the day.

Pensions experts and financial advisers are sounding dire warnings about the damage the Minister for Finance Michael Noonan is likely to do to the fragile retirement savings of private sector workers when he...

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