Concern over Pension Tax Error

 

There’s deep concern that more than 115-thousand pensioners are facing a cut in their pension income this year.

It emerged last night that they haven’t been paying the correct amount of tax – and will now face higher bills in 2012.

CONTINUE READING BELOW

This problem came to light after the Department of Social Protection gave the Revenue Commissioners information about state pension recipients.

It showed the tax liabilities of thousands of people who had both a state and a private pension had been under-calculated.

Age Action has expressed "frustration" with the news, while the Senior Citizens Parliament has suggested that Revenue should be running public awareness campaigns.

Some of those affected could now be facing a drop in their annual income of 4-thousand 400 euro for a single person, and 8-thousand 800 euro for a married couple.