Hi,
I wonder could you answer a pension law question.
I am an early retiree and receive a private pension (defined benefit). The trustees have decided to subtract the recent pension levy ( 0.6% of my pension fund for 4 years) in a way I have issues with. They are taking 0.6% of my pension in year 1 increasing to year 4 up to 0.24%. This they are saying will be deducted for my lifetime. Once I turn 69 I would have paid off the levy so anything after that if I am lucky to live to the average lifespan, is profit for I don't know who. I have raised an IDR to the trustees and received an answer I am no happy with. I can now go to the pension ombudsman but I do not want to waste time if it is legally sound that the pension provider can do this. They did not offer that I pay off the levy in one go each year which I would prefer as I would be finished after 4 years. They say that it is standard practice and those who die early will have an advantage (strange one) and those that live longer pay more. As this is the first time in ireland that this levy has been deducted I cannot agree that this is standard practice ?

Already Tried:
Went through process of IDR and received a reply from trustees. I am ready to go to pension ombudsman but would like to know whether my viewpoint would be supported by law.