Over the following 3 years of the Plan the rate of income tax relief on pension contributions will be reduced from 41% to 34% in 2012, to 27% in 2013 and 20% in 2014.
However, the Government is committed to raising €700 million from this sector over the period of the Plan and is willing to engage with the industry to examine alternatives to deliver this outcome.
Sorry, I'm sure this sounds like an incredibly stupid question, but has tax relief on AVC contributions actually been abolished or merely reduced? As far as I can see, it's been reduced, but I'd just like to make sure.
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