Q on Gov Pension Levy

[Fisherman]

Is the FG/Lab pension levy applied to a pension sum in drawdown. Specifically, is the levy applied to an ARF .

 

[Steven Barrett]

No, it doesn't apply to pensions post drawdown, so if you have an ARF, there is no levy.


Steven
www.bluewaterfp.ie

 

[Fisherman]

I hope I haven't compromised the situation by raising the issue ! Budget day coming up.

Thanks for reply Steven

 

[Steven Barrett]

It's never applied to post retirement funds. They saw what happened with the medical cards, they don't want to anger the pensioners again.

Instead, they've just taken over €2bn from the rest of us without a whisper.


Steven
www.bluewaterfp.ie

 

[wallym]

Pension levy - Any tax benefit?

Hi, Just wondering if there are any tax implications to loosing a large sum of money out of my pension pot. Is the money the government take allowable as a loss against income or CGT? Just some creative thinking! Cheers, Wally...

 

[Conan]

Mallym,
Pension funds don't pay tax (Income or CGT) on growth within the fund. Therefore there is nothing to offset the Pension Levy against.