Department of Finance lends its weight to pensions probe

Department of Finance lends its weight to pensions probe
Malta: a preferred location for pension transfersGetty

The Department of Finance has initiated a review of the controversial practice of international pension transfers, as official efforts to curb such transfers escalate.

The department is working with the Revenue Commissioners, the Department of Social Protection and the Pensions Authority on the issue, it has emerged.

It is the latest escalation in the state’s efforts to tackle a recent trend in the pension industry which has seen hundreds of retirement savers draw down their...

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