The looming tax deadline presents the final opportunity to offset a pension contribution against tax for 2010. Relief is granted at the taxpayer’s marginal rate of income tax subject to an overall earnings cap and a sliding-scale of contributions determined by age.
Posts Tagged ‘Pensions’
As many as 8,500 public servants will retire in the coming months to avail of current benefits that are due to expire in February and over fears lucrative lump sums will be taxed in future, according to The Sunday Business Post.
Thursday is D-Day for anyone with a private pension because the overall value of pension funds will be announced, which in turn will determine the amount of money the government will expect to raise from its 0.6% levy.
Joan Burton, the minister for social protection, warned minister for finance Michael Noonan the pension levy introduced to fund the government’s Jobs Initiative could “incentivise or force” some pension schemes to wind up in deficit, The Sunday Business Post reports.
Only 60 people in Ireland could afford to pay the full cost of a stay in a public nursing home based on their pension income, according to a new study detailed in The Sunday Business Post.