I am happy to bring some good news for a change.
The Noonan levy which was imposed on our pensions resulted in an effective reduction of just over 2% per month in our pensions. Happily this levy is now discontinuing with effect from July and the benefit will appear in your August pension slip, back paid by one month.
The work goes on to ensure a much needed increase in our pensions but for the present let us take take some pleasure from the ending of this much resented levy.
I would like to acknowledge Eugene Murray’s relentless commitment to the reversing of the levy deductions. When seeking election as a Trustee he stated that “The trustees have agreed that if ever the fund goes into a sustainable surplus then the pension levy reductions can be reversed.” Following a commitment he made at our AGM last year he wrote to his fellow Trustees seeking a reversal which has now come to pass.
A most sincere thank you to Eugene and his colleagues on the Board of Trustees, not least to Conor Hayes for his wisdom in managing the Scheme so well.
We have email addresses now for 454 members. That leaves 590 approximately we cannot email. Please spread the word and thank you to those who contacted us to give us their contact details.
On my own behalf and on behalf of our committee, our very best wishes.
Don’t spend it all at once.