Compulsory workplace pensions will leave even standard-rate taxpayers less-well-off than under existing pension arrangements, according to numbers presented by a senior industry figure.
However, numbers crunched by Irish Life make the case that people are getting a reduced benefit under the incoming system, which is currently passing through the Oireachtas and is scheduled to come into force next year.E-gates of hell signal start of travel chaos season Under existing tax relief rules for occupational pension, a worker paying tax at 20 per cent and contributing €1 to their pension, effectively only pays 80 cent because the money is taken from their earnings before the 20 per cent income tax is applied.
But that ignores that, under auto-enrolment, a greater sum will actually be invested in the pension – €2.33 for every €1 put up by the worker – than under the existing pension relief arrangement where the sum invested will be €2. “Auto-enrolment has an exaggerated impact on take-home pay as there is no tax relief,” he said, giving the example of someone earning €30,000.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: IrishTimes - 🏆 3. / 98 더 많은 것을 읽으십시오 »