Sir, – I was intrigued by the Revenue Commissioners' benign attitude towards those holding Vodafone shares (Business, January 21st). However, one can only sympathise with the former Eircom shareholders and wish them all the best.
Contrast this with the tremendous life-changing losses suffered by many pensioners. On the advice of the great and the good, including all governments, young adults were advised to be prudent and invest in pensions to provide for their own self-sufficiency.
Many pensioners have suffered the loss of at least two-thirds of their expected retirement nest egg. In many cases this has amounted to a small mortgage. However, these unfortunates are still taxed to the hilt on the paltry remains of their expected pensions and they have no time left to recover.
This type of attitude is hardly an encouragement to the younger generation to invest in pensions in order to be self-sufficient and look forward to a retirement without relying on the State.
Government and the pension industry need to start talking to each other and arrive at some sort of agreement that provides a little more security for investors in pensions. – Yours, etc,
PETER SEAVER,
Upper Outrath, Kilkenny.