Was one pen tick the master stroke for pension coverage?

Fundamental changes in Ireland’s pension landscape could see a marked improvement in pension take-up, says Eamon Dwyer, Private Client Adviser, Unio Wealth Management

One pen stroke in last year’s Finance Bill has changed the pensions landscape significantly for the better, notably for PRSAs.

Whether by luck or design, the recent changes to the rules governing Personal Retirement Savings Accounts (PRSAs) might be a turning point in efforts to improve pension coverage in Ireland.

Last year’s Finance Bill, the subsequent Finance Act, and, critically, the updating of Revenue’s pension manual in early 2023, announced a subtle but significant change to the pension landscape.