Pension changes mean levy may last indefinitely

Ireland’s levy on pensions may last indefinitely in the light of the Government decision to change the operation of employees’ defined benefit schemes.

Joan Burton, the social protection minister, announced on Tuesday that pensioners who are members of insolvent schemes will no longer be automatically entitled to have their income fully protected.

According to Age Action Ireland, which yesterday expressed grave concerns about the changes, the pensions levy — designed to operate from 2011 to 2014 — is likely to be extended for many years to come.