Ministers have invited union and industry leaders to talk again about plans to reduce the amount of money people can save tax free for a corporate pension.

Although the two coalition parties assured majority support for the changes during Monday’s parliamentary debate, ministers have admitted there is a lot of criticism of the proposals.

The government wants to reduce the amount workers can put into corporate pension schemes from 2.25% of their gross salary to 1.85%, a move which they say will generate €3bn in extra tax.

Criticism

But opposition parties, pension experts and the Council of State have all slammed the plans, saying it will be impossible for youngsters to build up a proper pension.

Now junior finance minister Frans Weekers and junior social affairs minister Jetta Klijnsma have invited union and employer chiefs to talks to try and improve the proposals.

Ministers want to ensure the plans are supported by employer and union leaders to head off potential industrial action.