70% ignorant on pensions, survey reveals

OVER 70% of people fail to understand the tax relief available to them on pensions, a new survey has found.

Bank of Ireland Life yesterday issued the shock findings in conjunction with the start of its annual drive to win market share on the pensions front.

Nearly half of workers do not have a retirement plan and the bank said that this latest finding should help the Government in its battle to tackle the country’s emerging pensions crisis.