Pensions Update, Autumn 2014

05-11-2014

Author: Declan Drislane, Philip Smith, Catherine Austin, Sarah McCague, Orla Ormsby



The Minister for Finance confirmed in his budget speech that the 0.6% Pension Levy will not apply beyond the end of 2014. The additional 0.15% pension levy introduced for 2014 and 2015 will expire as provided in legislation at the end of 2015.

It has been estimated that €2.3 billion has been paid in levies by pension schemes since 2011.

The ending of the pension levies is an opportunity for trustees and employees, who have not yet resolved who will bear the cost of the pension levies, to reach a decision on the matter in the knowledge that no future levies are proposed for the time being. For further information, please take a look at the Autumn 2014 Pensions Update.

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