Pension Levy
Pension Levy to cease in 2015
The Pensions Levy has been around since 2011 and the amount taken by the government from pension savings had been increased to 0.75% for 2014. This increase had come in for a lot of criticism given previous commitments made by the government that the levy would not be increased or be extended.
However, as announced in the previous Budget, the Pension Levy will reduce to 0.15% for the next calculation date of 30 June 2015 and cease after that. It is welcome that the Minister has stuck to his commitment that the Pension Levy is a temporary measure that will end in 2015.
|
