Isme is calling on private sector workers across the country to donate money to support a campaign to create an equitable system for private sector pension savers.

The Irish SME Association (Isme) is looking to raise €500,000 to support three plaintiffs who will challenge tax discrimination against private sector workers before the High Court, arguing that the pension system favours public sector workers.

The funds raised will support the formation of a technical team giving tax guidance, pensions expertise, and actuarial assistance together with tax and constitutional law advice for the pension’s equity challenge. Isme intends to initiate proceedings in the High Court this year.

The association wants business owners and individuals within the SME business community to contribute € 100, or whatever they can afford, to support the challenge. It is calling on pension providers to donate a minimum of € 10,000 each.

Isme also will engage with private sector workers, pension trustees, pension brokers and other interested parties who have raised this issue previously, to build the necessary funds.

Isme’s goal in pursing the action is: to ensure private sector workers are not penalised for trying to save a pension pot of equivalent value to that which is provided to a public sector worker for little (or no) contribution; to allow private sector workers to save what they feel is appropriate to give them a decent standard of living post-retirement; to ensure that there remains an incentive for private sector workers to save money for their pensions; and to minimise the burden on society caused by the pension deficit.

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