800k private pensioners face 42% hike in supervision fees under government proposal

Private pensions regulator has applied for its annual fee income to rise from €7m to €10m next year

7th March, 2021
800k private pensioners face 42% hike in supervision fees under government proposal
The Pensions Authority has told the government that the increase in supervision fees is necessary to comply with stricter EU pension monitoring rules

Around 800,000 private pensioners are facing a 42 per cent hike in their supervision fees under new plans being considered by the government.

The Pensions Authority, which is in charge of regulating private pensions, has applied for its annual fee income to rise from €7 million to €10 million next year. The increased fees will be passed on by pension providers, meaning they will reduce the value of a person’s final retirement pension.

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