Abolition of pension levy
Senator Paul Coghlan welcomes the planned abolition of the pension levy, while acknowledging the hardship it caused private pension savers.
I take Senator Darragh O'Brien's points on pensions and CPR. I am delighted that in the budget the Minister gave notice of his intention to abolish the pension levy. Most of it will take effect this year with a little remaining for next year.
Comment on this
I agree with the Senator's other point, but perhaps the show is not over yet. Sometimes, time and space are needed. For years, I felt bad about the pension levy. All of the people in the private sector who saved hard were having their pension pots raided without having a say in the matter. We understand why it was done, the reason being the appalling state of the nation's finances. While we are not yet back on an even keel, we are well on the road. Please God, there will be further progress. I am sure the Leader agrees.