High earners using tax breaks on pensions to avoid tax

06/02/2006 - 12:55:28
An internal review by the Department of Finance has concluded that many wealthy people are abusing tax incentives introduced to boost pension coverage among ordinary workers.

The review is one of three reports into controversial tax-break schemes published by the department today.

It examines a wide range of tax incentives and concludes that many high earners are taking out pensions they don't use or need in order to avoid or delay paying money to the Exchequer.