David Begg again calls for private pension grab.

kennyb3 · **Joined:** Mar 3, 2010 **Posts:** 1116

Tax Avoider wrote:

Latest info suggests a flat tax relief rate of 30%. To be announced in the Budget this year.

Any links for that? Cheers

Tax Avoider · **Joined:** Dec 5, 2010 **Posts:** 331

kennyb3 wrote:

Tax Avoider wrote:

Latest info suggests a flat tax relief rate of 30%. To be announced in the Budget this year.

Any links for that? Cheers

Para 13.

taxpolicy.gov.ie/wp-content/uploads/2011/03/09.21.pdf

alejandro · **Joined:** Jan 26, 2012 **Posts:** 155

Does anyone believe David wants your pension to create jobs? I think he might want it to prop up current public spending but could never say that as he might as well ask for one of your kidneys whilst he's at it.

Grizzly Man · **Joined:** Jul 16, 2007 **Posts:** 149

Tax Avoider wrote:

This is going to happen. Latest info suggests a flat tax relief rate of 30%. To be announced in the Budget this year.

I note that they want to "introduce a single 30% rate for tax relief on private pension provision". They'd hardly get away with leaving it at 41% for public service pensions would they?

Dubhgeannain · **Posted:** Tue Jun 19, 2012 3:17 pm

michaelc wrote:

Tax Avoider wrote:

I note that he doesn't call for a reduction in the benefits from Public sector pensions, for the good of the economy, of course.

I tried to find out Begg's background (CV etc.,). Didn't get what I wanted, but Wikipedia page on ICTU
http://en.wikipedia.org/wiki/Irish_Cong ... ade_Unions has a stat on union membership "In the Republic, over 60% of union members are in the public sector". If that's true, then it would explain some of Begg's policies.

The bit that makes me sick is that he gets free run when he's so deeply vested (including being on Central Bank board 1995 through 2010, and Aer Lingus board http://www.finfacts.ie/irishfinancenews ... 1252.shtml ), so the only two interpretations I see are

1. He hasn't a clue
2. He has a clue, and is happy to pillage private sector pensions to pay public sector (the resulting "class" tensions probably help shore up union membership in the public sector).

Poor soul. He has only two connections on LinkedIn

Quote:

General Secretary at Irish Congress of Trade Unions
Ireland · Nonprofit Organization Management

kennyb3 · **Joined:** Mar 3, 2010 **Posts:** 1116

Tax Avoider wrote:

kennyb3 wrote:

Tax Avoider wrote:

Latest info suggests a flat tax relief rate of 30%. To be announced in the Budget this year.

Any links for that? Cheers

Para 13.

taxpolicy.gov.ie/wp-content/uploads/2011/03/09.21.pdf

Appreciate that

michaelc · **Joined:** Feb 8, 2009 **Posts:** 137

alejandro wrote:

Does anyone believe David wants your pension to create jobs? I think he might want it to prop up current public spending but could never say that as he might as well ask for one of your kidneys whilst he's at it.

I think his idea of job creation and yours might be rather different. When you spend your career in quangos and union administration (which becomes an industry in itself) your perspective can get a bit twisted if you're not careful to tie into productive realities.

This from '98 when he was new into Concern (following various trade union admin posts)

Quote:

But as I pointed out, I spent most of my trade union career trying to derail one corporate plan or another, so my colleagues shouldn't worry that I am overly dependent on their value

http://www.independent.ie/business/begg ... 40943.html

I was shocked in the earlier post that the entire pensions pot is just 71bn. We'd burn through that completely in 5 years of the current deficit.

Magpie · **Posted:** Tue Jun 19, 2012 3:31 pm

alejandro wrote:

Does anyone believe David wants your pension to create jobs? I think he might want it to prop up current public spending but could never say that as he might as well ask for one of your kidneys whilst he's at it.

Hmm, I think he wants it so he can ensure there are enough feathers in his own nest.
After all he is probably not intent on working right up until retirement, he's probably not put anything aside in a private pension (otherwise he would not be doing this), he thought .gov would keep paying, the cupboard is bear and his panicking.

He might also be underwater on a property or two, after all these new breed of socialists are more socialist of the little people, big fat pay cheques, personal wealth creation and other people pensions for him.

sorehead · **Joined:** Dec 12, 2007 **Posts:** 595

Quote:

After all he is probably not intent on working right up until retirement, he's probably not put anything aside in a private pension

Jack O’Connor was talking about pension funds last year probably on morning Ireland – possibly in reference to buying higher yielding Irish bonds or maybe this infrastructure fund.

But for a union leader he seemed to have some practical knowledge of how badly pension funds were performing. He was referring to the SIPTU DB fund and clearly had seen what the real world returns were – he unusually was talking in concrete rather than abstract terms.

Perhaps the reason he’d got his head around the numbers was as written in the Sunday business post “Trade union Siptu has a deficit of €103 million in its defined benefit pension scheme, according to its 2010 annual report.”

the edge · **Joined:** Sep 25, 2007 **Posts:** 3723

Dubhgeannain wrote:

michaelc wrote:

Tax Avoider wrote:

I note that he doesn't call for a reduction in the benefits from Public sector pensions, for the good of the economy, of course.

I tried to find out Begg's background (CV etc.,). Didn't get what I wanted, but Wikipedia page on ICTU
http://en.wikipedia.org/wiki/Irish_Cong ... ade_Unions has a stat on union membership "In the Republic, over 60% of union members are in the public sector". If that's true, then it would explain some of Begg's policies.

The bit that makes me sick is that he gets free run when he's so deeply vested (including being on Central Bank board 1995 through 2010, and Aer Lingus board http://www.finfacts.ie/irishfinancenews ... 1252.shtml ), so the only two interpretations I see are

1. He hasn't a clue
2. He has a clue, and is happy to pillage private sector pensions to pay public sector (the resulting "class" tensions probably help shore up union membership in the public sector).

Poor soul. He has only two connections on LinkedIn

Quote:

General Secretary at Irish Congress of Trade Unions
Ireland · Nonprofit Organization Management

Linked in is for people who are building their careers, well connected beardies with cushy numbers on quangos don't need it.

David Begg again calls for private pension grab.

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