IBEC claims budget disincentivises the provision of pensions

EMPLOYERS will no longer receive any relief on contributions made by employees into their pensions — at an annual cost of €90 million to employers.

Brendan McGinty, director of industrial relations and human resource services at IBEC, said the move disincentivised the provision of a pension.

According to Mr McGinty, abolishing employer PRSI relief on employee pensions will increase labour costs and is a further cost on employment.