Pension top-up could benefit 500,000
The well-flagged extension of the SSIA scheme was unveiled by Mr Cowen yesterday as part of the Finance Bill. He said it was designed to encourage more people on lower incomes to transfer funds into pension schemes.
Under the scheme, the Government will give an extra €1 for every €3 transferred from SSIA accounts into pensions. It will be confined to those on the 20% tax rate or below.
