I don't think the Constitution is the proper place for tax rules - or judge's pay for that matter
Provided we don,t leave an opening for Politicians to change ground rules on what can (fairly) constitute pension funds.I agree in theory. But in practice, I think that a discipline must be put on Ministers for Finance.
Brendan
I'm not sure what you're saying here - it's not the employer taking anything away - it's the government. I'm a (deferred) member of a DB scheme and the trustees wrote to the members saying the scheme wasn't in a financial position to absorb the levy that the government was taking - so they had no choice but to pass the cost on in the form of lower benefits. I will have a permanent reduction of 2.5%-ish of every payment I get in retirement.This law has been used to protect DB pensions even though the DB pension wasn't funded by the employee - the argument I think was was the employee was given ownership of 1/80 of final salary every year, the employer couldn't retrospectively take away that property.
If we don't trust the government - then don't elect them..
FG didnt exactly advertise on their election manifesto that they would raid our pensions in the event of an economic downturn! If they had, I'm fairly sure less people would have voted for them. Its impossible to know in advance what ideas they will drum up once in power....
It's probably a good idea to give protection in the constitution...
"A temporary, annual 0.5% contribution for all private pension funds, so that older beneficiaries of past tax relief make some contribution to deficit reduction. An equivalent reduction could be applied to public and private sector defined benefit entitlements"They did actually! It's on page 67.
My God, I don't actually believe my eyes!They did actually! It's on page 67.
http://michaelpidgeon.com/manifestos/docs/fg/Fine Gael GE 2011.pdf
They did actually! It's on page 67.
http://michaelpidgeon.com/manifestos/docs/fg/Fine Gael GE 2011.pdf
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