Should tax relief on pensions be changed?

Brendan Burgess

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Consultation on Supplementary Pensions Reform has three sections.

I attach the briefing and the questions to be addressed on Section B Costs to the Exchequer

Submissions should be made by the 19th October.

Brendan

B1. How should the economic and social benefits of tax relief on pension contributions and investment returns be considered/measured and how do you believe the system of tax relief performs in that context?

B2. To the extent that the State’s tax expenditure on pensions has not resulted in high coverage rates, what in your view explains this?

B3. What adjustments, if any, could be made to marginal relief to best support the rollout of automatic enrolment?

B4. What form of financial incentives for supplementary pensions, alternative to existing ones offered by the State, would better encourage lower and middle income earners to save for their retirement?

B5. In evaluating equity in the distribution of the economic and social benefits from this tax expenditure, what factors should be considered?

B6. Should changes be made to the existing tax treatment of pensions in any of the following stages?
 Tax treatment of employee contributions
 Tax treatment of employer contributions
 Tax treatment of growth in pension funds
 Tax treatment of drawdown of pension
If so, what kind of changes should be introduced and for what reasons?
 

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We have discussed auto-enrolment a lot.

Does anyone intend to make a submission on this?

This is to the Department of Finance, so it's probably more influential than to the Dept of Social Welfare.

Brendan
 
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