asked the Minister for Finance if he will make a statement concerning the alleged procedural delays within his Department in the implementation of improvements sanctioned by the Finance Act, 1972 and the Revenue Commissioners in the superannuation schemes of certain State companies.
Ceisteanna—Questions. Oral Answers. - State Company Superannuation Schemes.
29.
It is not clear from the Deputy's question what companies he has in mind or what improvements are at issue. However, the general position is that certain tax reliefs are granted in respect of occupational pensions schemes approved by the Revenue Commissioners for tax purposes on the basis that their benefits do not exceed the limits approvable by the commissioners under the Finance Act, 1972.
In considering the superannuation terms of State companies for purposes other than tax purposes, regard is had to the general level of benefits obtaining in the public sector, the cost involved in any proposed improvements and the provisions of the Employer-Labour Conference National Agreements. There is no question, therefore, of automatic application of the maximum benefits allowable for tax purposes under the Finance Act, 1972 to any particular company.