Tuesday August 11, 2020

Early access pension scheme falls flat

Just €67 million in tax deducted during the three-year window

26th June, 2016

The government’s final tax take from a now closed scheme allowing early access to retirement savings has fallen far short of initial estimates, according to new figures.

Retirement savers withdrew a total of €173 million from Irish pensions between March 2013 and March 2016 under the three-year pension access scheme, according to new figures from the Revenue Commissioners.

Pension withdrawals under the early access scheme were subject to tax, and initial government estimates at the...

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