The Irish government will not increase or extend the levy imposed on private pension funds to finance a plan to create 100,000 jobs over the next four years, Global Pensions reports. The 0.6% levy on pension funds is expected to raise about €1.9 billion in total over the four years.

The levy will not be applied to pensions in the public sector, but will affect all defined benefit and defined contribution pension schemes in the private sector, adds The Irish Times. The tax will be paid in two tranches each year by fund trustees or managers.

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