Irish pensions levy has had a “devastating impact” on the country’s pension system

The Irish government austerity levy on private occupational pensions has led to a collapse in membership. A similar scenario is predicted for public sector pension schemes in the UK if the Con Dem’s succeed in imposing increased contributions. This will leave the LGPS funds in tatters and the NHSPS in deficit – both would lead to further cuts in jobs and pay as they tried to recover the cash deficits: http://www.globalpensions.com/global-pensions/news/2111010/pensions-levys-devastating-impact-irish-market