IBA To Discuss Initiatives Around Private Pensions

The Irish Brokers Association (IBA) will attend the Oireachtas Committee on Jobs, Social Protection and Education today to discuss a number of issues and initiatives around private pensions.

The IBA has 500 members, which include large international brokers, large national players and small and medium sized brokers throughout the country.

The IBA believes that private pension funds can play a pivotal role in Ireland’s economic recovery. According to the IBA, the vast majority of its members would support 5% of pension funds, around €1.4 billion in total, being invested in Irish infrastructure.

Chairman of the Committee Deputy Damien English said: "The IBA will have an opportunity to explain in-depth the rationale behind this initiative, along other proposals it has put forward such as tax relief on employee contributions and allowing people access to their tax free pension lump sum during their lifetime rather than restricting it to retirement. The Committee will have a chance to listen to the case presented by the IBA, explore these initiatives and to raise any issues they may have on the IBA's proposals."

(CD/GK)