Workers face losing €1.3bn in tax relief on pensions

Workers face losing €1.3bn in tax relief on pensions

The Department of Finance has set up a working group to examine the scrapping of the higher pension tax relief of 40 per cent and replacing it with the standard 20 per cent band

Workers are facing a double threat to the €1.3 billion-worth of annual tax relief on their pension contributions.

The Department of Finance has set up a working group to examine the scrapping of the higher pension tax relief of 40 per cent and replacing it with the standard 20 per cent band.

Separately, it is also planning to cut pension tax reliefs for private sector workers to fund the state’s new “automatic sign-up” pension scheme.

Subscribe from just 1€

Exclusive offers

Choose the subscription that is right for you

Monthly Subscription

€1

For the first month

€19.99 Monthly Thereafter

Subscribe today

Cancel anytime

Annual Subscription

€200€149

For the first year

€199.99 annually thereafter

Subscribe today

Cancel anytime

Quarterly Subscription

€55€42

For the first 90 days

€55.00 quarterly Thereafter

Subscribe today

Cancel anytime

These offers are not available for current subscribers. Offers and pricing are subject to change without notice.

Terms & Conditions Apply

Please Subscribe or Log in to continue

Subscribe Login

Related Articles

More from The Business Post