Wealthy retirement savers apply for tax exemption after limit cut

Close to 200 of the country’s wealthiest retirement savers have applied to the Revenue Commissioners for an exemption from revised rules on pension limits.

Budget 2014 introduced major pension changes, with Minister for Finance Michael Noonan announcing a significant reduction in the maximum pension pot on which a person can receive tax relief in their lifetime.

The standard fund threshold (SFT) fell to €2 million from January 1, 2014, down from the previous ...