Don’t cut tax breaks: IAPF

CUTTING tax breaks for pensions would be a “major blow” and would put 750,000 people off saving for their retirement, the country’s top pension fund managers said yesterday.

The Irish Association of Pension Funds (IAPF) said last week’s recommendations by a leading Government think-tank failed to take account of the true pensions picture and should not be implemented.

The Economic and Social Research Institute (ESRI) said last week that the system of tax breaks for people who put money into private pension plans was unfair and called on the Government to review its policy.