There is little doubt that the next Government’s attitude to private pensions will have a serious impact on the shape and size of your pension pot.
In 2019, self-administered pension schemes in particular were targeted under the cover of the new European pension’s directive (IORP II). The new directive set upon introducing measures which effectively would abolish the opportunity for pension schemes to invest in property and other “unregulated” assets.
ITC and other pension providers successfully opposed the move; in October 2019 after 2 days spent in the High Court, a stay on the new policy was secured. We now suspect that the implementation of the new measures was one of the casualties of the bills which lapsed with the dissolution of the 32nd Dáil.
From our end we and other parts of the pensions industry will continue to exert pressure for this new regressive policy not to get on the Statute Book.
What can you do? Vote!
*Please note this content is the view of the author and not of Independent Trustee Company