Pension holders urged to top up

AS part of its annual pensions campaign, New Ireland Assurance has urged pension holders to top-up their pension payments before the October 31 self-assessment tax deadline.

In addition to providing a comfortable standard of living on retirement, making top-up pension payments can also provide significant tax benefits — up to double those that the SSIA scheme has to offer.

According to the Government, the nation’s pension crisis is two-fold, with only half of the working population currently contributing to a pension, and the relatively low level of pension payments being made which are not enough to secure a decent income in retirement.