Move to 20% pension contribution relief not set in stone yet – Deloitte
24 November 2010 - The first key change to tax relief infrastructure comes in 2011, when pension contributions made by employees and the self employed will cease to attract PRSI and health levy relief. The further proposal is that contribution relief will be restricted to 34% in 2012, 27% in 2013 and 20% in 2014; however the Government is committed to engaging with the pensions industry to examine alternative ways to achieve the desired savings outcome of €700 million.
Commenting on the pension measures announced in the National Recovery Plan 2011-2014, Ian Mitchell, Managing Director, Deloitte Pensions and Investments Limited commented:
“The door has been left ajar on contribution relief but the pensions industry will need to move quickly before the door is slammed shut.”
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