Taoiseach promises pension fund probe

A PROBE into “swampy” practices in the pension fund business was signalled by the Taoiseach as the Government pledged not to increase its controversial levy on people saving for old age.

Responding to demands from Independent TD Shane Ross for an investigation into the “gravy train and goldmine” agenda of pension fund managers, Enda Kenny said the Finance Department would look at the matter.

Mr Ross warned that a whole industry was now dedicated to “looting pensions” and the Government should put a cap on the fees fund managers charge and tax those fees heavily.