If you have a pension in Ireland, you’ve probably already paid taxes on it. That doesn’t matter because the Irish government are set to take some more taxes from you.
Without the ability sell debt due to soaring interest rates, and with severe spending rules in place due to its EU-IMF bailout, Ireland has few ways of spending to stimulate the economy. Today’s jobs program includes specific tax increases, including the tax on pensions, aimed at keeping government jobs spending from adding to the national debt.
The tax on private pensions will be 0.6%, and last for four years, according to the report.
But, don’t worry folks. It’s only a temporary measure.
Unwilling to budge on the country’s low corporate tax rate, Enda Kenny’s Irish government has chosen to target pensioners for funds to grow the economy. Whether it turns out to be an example to other countries seeking alternative ways to raise revenues with aging populations is yet unknown.
Hey, look at that. Ireland is just like the USA. We can’t possibly raise the corporate tax, so we’re going to screw the little guy just a bit more.

