Few benefits from SSIA investment proposal

WHAT benefit is it to me to invest €7,500 from my SSIA, with the Government adding €2,500 to make a total of €10,000?

I am in a company pension plan and pay tax at standard rate of 20%.

I am 51 years old, which means I can invest up to 30% of my income.

If I were to invest €10,000, with tax relief of €2,000 and PRSI relief of €600, the net cost to me would be €7,400.

At this, there would be a saving of €100 to me after investing €10,000 from my wages.

For somebody on the higher tax bracket of 42%, there is a much bigger saving.

Has Social and Family Affairs Minister Seamus Brennan looked at this?

Tom Gallagher

Courtbrown

Ballysteen

Co Limerick