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IRELAND NEWS: Taoiseach (Prime Minister) confirms wealthy to escape pension levy
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You are here: Home » Events » News » IRELAND NEWS: Taoiseach (Prime Minister) confirms wealthy to escape pension levy
Saturday, 24 Jun 2017

IRELAND NEWS: Taoiseach (Prime Minister) confirms wealthy to escape pension levy

by Dominic Coyle (Irish Times, May 13, 2011).

TAOISEACH ENDA Kenny yesterday confirmed that retirement income held in

flexible pension accounts will not be liable to the pension levy.

Mr Kenny said Approved Retirement Funds (ARFs) into which mostly wealthy

people have moved their pension funds on retirement for tax efficiency and

estate planning purposes were not considered pension funds.

A statement from the Department of Finance said ARFs were “closest in nature

and are an alternative to an annuity”. It noted that both are taxed at a pensioner’s marginal income tax rate.

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