Sir, – The fate of the Independent News & Media (INM) pensioners provides a stark reminder of the perils in the private sector.
The government imposed five levies amounting to 2.7 per cent on pension fund assets after the financial crisis, whether the funds were solvent or not. As a result most pension fund trustees reduced pensions permanently by this amount.
If government policy is to restore members of the private sector to their 2008 position, as in the public sector, these levies should now be repaid.
INM pensioners would appreciate it.
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– Yours, etc,
TIM McCORMICK
Dublin 6.