Wealthy OAPs to be hit but hope of deal for house buyers
01.01.70
WEALTHY pensioners are in the firing line as Finance Minister Michael Noonan finalises his tax package in the Budget.
He is also looking at possible ways to assist the housing market and incentivise first-time buyers.
Cuts to TDs' expenses and ministers' perks are also on the cards.
The Government's move to hit high-earning pensioners comes as new figures reveal at least 170 retired bankers who worked at bailed-out lenders are getting pensions over
€100,000. These lavish sums are five times what a typical pensioner has to live on.
Just 2pc of retired bank staff get the huge pensions above €100,000, but revelations about so-called "super pensions" in bailed-out banks have angered taxpayers.
Mr Noonan is regarded as having two options: an increase in the Universal Social Charge on incomes above a certain level; or changes to the PRSI rules for big pensions.
Meanwhile, Mr Noonan is also weighing up how to assist the property market and incentivise buyers.
Source: Irish Independent
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