Dutch Pension Associations Express Deep Concerns About FTT

12 January 2012 (PLANSPONSOREurope.com) – A group of Dutch Pension Associations have expressed deep concerns about the impact of the proposed EU tax on Financial Transaction Tax (FTT) Directive. The group includes The Pension Federation, Eumedion, DUFAS and the Association of Insurers.

The group has written a joint letter to Dutch Secretary of Finance De Jager claiming the tax could cost between 2.5 and 4.1bn Euros leading to  a decrease of 5% to 10% in individual pensions.

The group also claims the tax could lead to a rise in unemployment which will lead to a structurally lower national income over the long term and lower tax revenues.

The group calls for the FTT proposal to be withdrawn with targeted measures introduced to create to financial stability and drive down speculative behaviour.
 

PLANSPONSOREurope Staff
editors@plansponsoreurope.com