Vol. 560 No. 3
465 Mr. Hogan asked the Minister for Social and Family Affairs if the same relief from PRSI and the health levies will apply to contributions made personally to PRSAs and personal pensions as those made through employer payroll PRSA schemes under the net pay agreement; and if she will make a statement on the matter. [2696/03]
The same relief from PRSI and the health levies will apply to contributions made personally to personal retirement savings accounts, PRSAs, and personal pensions as will apply in respect of PRSAs which are relieved directly under the net pay arrangement.
This was provided for in section 11 of the Social Welfare Act 2002, which gave me power to make regulations for this purpose in relation to PRSI. Section 16 of the Social Welfare Act 2002 amended the Health Contributions Act 1979 to give power to the Minister for Health and Children to make a similar regulation in relation to the health levy. It is intended to make these regulations in 2003 and these will apply in respect of any payments made outside the payroll system to PRSAs or personal pensions in 2003.
The tax treatment of personal pensions in relation to net pay arrangements is a matter for my colleague the Minister for Finance.
