‘Stop the clock on pension change’

THE clock should be stopped on further pension tax change in 2012, the Society of Actuaries in Ireland argues, saying that a comprehensive and holistic analysis of proposed changes is required.

In a position paper entitled: Taxation of Private Pension Provision, the Society of Actuaries in Ireland (SAI) says no further changes are required in the short term “given that the National Recovery Plan targets will be substantially met from measures that have already been implemented”. This targeted savings of €940 million in a full year.

“A number of measures have already been implemented in 2011 which have achieved savings of €293m, ahead of the target for 2011 of €260m.