The Society of Actuaries in Ireland has published a position paper on “Taxation of Private Pension Provision”.
The primary purpose of the paper is to examine the effect of reducing the tax relief on pension contributions made by individuals.
Individuals currently receive tax relief at their marginal income tax rate on pension contributions. The National Recovery Plan 2011-2014 proposes to change the tax relief from the individual’s marginal tax rate to the standard tax rate of 20% by 2014.