Private pension holders to bear the cost of new levy
The complicated legislation giving effect to measures announced in the Jobs Initiative was published yesterday, outlining details of the 0.6% pension levy which the Government believes will raise €1.9 billion to fund its employment plan.
Defending the tax in the Dáil last week, Taoiseach Enda Kenny said: “This is not a tax on any individual pension, it is a levy on the funds.”