Deep risk of offshore pensions

Deep risk of offshore pensions
Malta is one destination in Europe for some private Irish pension funds but Revenue have spelt out the risks. Picture: Getty

People looking to avoid tax by transferring pension funds offshore face severe consequences when the Revenue comes calling

Over the crisis years, private pension capital has been raided for some €2 billion by the government levy. But it has also been subject to a squeezing of limits, restricting both tax relief and tax-free cash lump sums. The result has been a growing number of people looking for external escape routes within the EU, especially for transfer values out of employer pension schemes, as well as for PRSAs.

Please Subscribe or Log in to continue reading

Subscribe Login

Independent journalism every day

With digital access you can read The Business Post whenever, wherever, and however you want.

  • Unlimited access to all sections of The Business Post on desktop, tablet and mobile.
  • Breaking news, comment and analysis from the best Business Post writers seven days a week.
  • Live blogs of major news events.
  • Videos and podcasts from some of the industry's most respected journalists such as Michael Brennan, Susan Mitchell and Ian Guider.
  • Access to The Business Post's extensive archive​.

Related Articles

More from The Business Post