News & Events

The Pension Fund Levy
[ 17/05/2011 ]

What is the Pension Fund Levy?
As part of the measures announced by the Government to promote job creation, a levy has been introduced on pension funds. A 0.6% levy is to be charged on all capital value assets under management of funded pension schemes and personal pension plans established in Ireland. The levy is temporary, and will be in force until 2014, raising an estimated €470m annually. It has been clearly stated that holders of Approved Retirement Funds will not be subject to the levy. 

How will the Levy work? 
The levy will apply based on the market value of assets as at 1st January 2011, however, there is little specific detail from the Department of Finance on the practicalities of the proposal. 

For more information, please call us on 059 9137040 or email info@laloroshea.ie.