Government could continue with pension levy

A pensions expert has claimed the Government could continue with the pension levy because it has faced little popular opposition, in spite of costing pension savers an average of €2,500 each per year.

Samantha McConnell, chief investment officer at IFG Corporate Pensions, said that, in last year’s budget, the Government reneged on its promise that the levy was temporary, and not only increased it for 2014 but introduced a new levy for 2015.

She also expressed fears that it would be maintained at 0.75% and not reduced to 0.15% in 2015, as promised in the last budget.