Sir, - We are shocked by the recent amendment to Section 17 of the Finance Bill 1999. Most widows have no pensions in their own right and depend for a retirement income on their husbands or the State.
Mr McCreevy's proposals would enable people to set down large sums of money tax-free before retirement and then draw down substantial amounts in cash (rather than in pension form) at a later stage, as long as the person has a guaranteed income of at least £10,000 (including the Social Welfare pension, currently £4,316 a year).
We are appalled, to say the least. Life is very hard for widows who endeavour to make ends meet.
We appeal to Mr McCreevy: Please do not make life harder for widows. Please reconsider, even at this late stage, some of the provisions in the Bill and particularly those which could endanger widows in the future. - Yours, etc.,
Sheila Conroy, PRO, National Executive Committee, National Association of Widows in Ireland, Upper Ormond Quay, Dublin 7.