Decision to abandon semi-state pension levy will cost over €160m
The sunday tribune article gets it wrong on the subject of the public service pension levy and the commercial semi states. If the journalist (or headline writer) had been reading various threads here it would have been apparent to them.
The public service pension levy was never proposed for the commercial semistate orgainsations because these organisations have their own seperate pension arrangements! And their pensions are not funded by the exchequer.
Workers at Irish Shipping and Irish Fertilisers learnt this fact in a very painfull manner when they discovered that they were to retire on a fraction of their expected "pension promise".
I have made a suggestion here that an analogous compulsory "levy" should be imposed on the commercial semi states and that the proceeds should go into these db funds (many of which are currently under funded).
The sunday tribune article gets it wrong on the subject of the public service pension levy and the commercial semi states. If the journalist (or headline writer) had been reading various threads here it would have been apparent to them.
The public service pension levy was never proposed for the commercial semistate orgainsations because these organisations have their own seperate pension arrangements! And their pensions are not funded by the exchequer.
Workers at Irish Shipping and Irish Fertilisers learnt this fact in a very painfull manner when they discovered that they were to retire on a fraction of their expected "pension promise".
I have made a suggestion here that an analogous compulsory "levy" should be imposed on the commercial semi states and that the proceeds should go into these db funds (many of which are currently under funded).