Government must end private pension levy

I note Mr Howlin is to begin an “orderly restoration” of public sector pension reductions made in recent years. This is happening when money is still being taken out of private pension funds. Another 0.15% this June.

Most funds have already restructured which has resulted in a permanent reduction in benefits for its members. They are now being hit with an additional 0.15% which has not been funded for yet by trustees, and will probably further erode benefits.

The majority of private pensions will never again receive an increase in benefits, and if they do, it will be minimal, therefore, they have no protection against inflation.