New deficit to be 8.2%; Minister announces pension tax relief plans
Ireland's new estimate deficit will be 8.2% - well inside the 8.6% limit in the Troika agreement, Minister Noonan said.
From January 2014 tax relief on pension contributions will only be allowed on schemes that deliver up to €60,000 per annum. Tax relief will continue at the marginal rate of tax.
Also, the pensions levy that was introduced to fund jobs initiative will not be renewed after 2014.
Standard rate rather than reduced rats of USC will apply to pensioners over 70 with income of greater than €60,000 from January.
