€2.3M fund cap applies to the notional value of DB Public Service pensions.

G

Gekko

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The €2.3M fund cap applies to the notional value of defined benefit State sector pensions funded from current Government expenditure...I wonder is there a way this proposed levy can also be levied on public sector workers? Probably not, unless (say) their lump sum or final pension is hit.
 
Gekko said:
The €2.3M fund cap applies to the notional value of defined benefit State sector pensions funded from current Government expenditure...I wonder is there a way this proposed levy can also be levied on public sector workers? Probably not, unless (say) their lump sum or final pension is hit.
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You're too late. Public sector workers have been paying the pension levy for 2 years now.
 
Gekko said:
Not enough. They should have to pay this too.
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When they actually start putting my contributions aside into a fund with my name on it, then they can feel free to levy this on it. Currently, they take 100% of my fund, and just leave an increasingly dubious IOU in its place.
 
Complainer said:
You're too late. Public sector workers have been paying the pension levy for 2 years now.
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No, not all public sector workers have been paying the levy. What you are describing is the public service levy. This is a levy on unfunded public and civil service superannuation schemes.

Funded schemes such as exist in ESB are not included in the public service levy.
 
Gekko,

Ive moved your intesting post from the proposed pension fund tax thread because it invites comparison with the seperate public service levy and threatened to drag it off course.

In your post you mention a figure of €23m fund cap. Can you provide a link which explains what this is about?

aj


this thread split from How will the new 0.5% pension levy work?
 
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