Pension Provisions.

Dáil Éireann Debate, Wednesday - 18 February 2009

Wednesday, 18 February 2009

Questions (48)

Sean Sherlock

Question:

74 Deputy Seán Sherlock asked the Minister for Finance the saving to the Exchequer on a full year basis of the public sector pension levy to be introduced in March 2008; if the proposal to the social partners on 3 February 2008 made explicit mention of the effect that tax relief on the pension contribution would have in reducing the average net impact on take-home pay of those affected below 7.5%; and if he will make a statement on the matter. [6353/09]

Written answers

Minister for Finance (Deputy Brian Lenihan)

The estimated full year saving from the application of the pension related deduction across the public service is some €1.35bn. When the proposals were submitted for consideration to the social partners on Monday evening, 2 February, it was explained that tax relief would apply.