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Waterford ripples

Alarm bells are ringing among those who have done the right thing over the long term, and saved for their retirement years, as suggestions of a pension levy arise in the aftermath of the Waterford Crystal judgment in the European courts.

There can be no justification for a further savings grab on top of the existing pension levy, as a result of this decision in Europe. The pension levy is highway robbery, plain and simple, failing miserably to lower dole queues as intended.

No more the soft touch, these levies are 'wealth grabs', which seriously compromise the cumulative value in any fund over time, removing the initial incentive to save for retirement. They must cease.

Should others in Europe wish to grant private company employees their failed pension entitlements, let them pay for it, not Irish taxpayers, again. Let the Germans, Dutch and others pay for this one, given their enthusiasm for judicial remedy. They may not be so enthusiastic then.

J B Murphy

Ennis Road,

Limerick 

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