Dáil Éireann Debate, Thursday - 15 November 2012
74. Deputy Pearse Doherty asked the Minister for Finance if employees at the Irish Bank Resolution Corporation, in which he is the sole shareholder of 100% of the shares, pay a pension levy in accordance with the announcement of the previous administration on 3 February 2009; and if no such levy is paid to provide an explanation for this position. [50602/12]
View answer75. Deputy Pearse Doherty asked the Minister for Finance if employees at Permanent TSB, in which he is the shareholder of 99.5% of the shares, pay a pension levy in accordance with the announcement of the previous administration on 3 February 2009; and if no such levy is paid to provide an explanation for this position. [50603/12]
View answer76. Deputy Pearse Doherty asked the Minister for Finance if employees at Irish Life, in which he is the sole shareholder of 100% of the shares, pay a pension levy in accordance with the announcement of the previous administration on 3 February 2009; and if no such levy is paid to provide an explanation for this position. [50604/12]
View answer77. Deputy Pearse Doherty asked the Minister for Finance if employees at Allied Irish Banks including the Educational Building Society, in which he is the shareholder of 99.8% of the shares, pay a pension levy in accordance with the announcement of the previous administration on 3 February 2009; and if no such levy is paid to provide an explanation for this position. [50605/12]
View answer78. Deputy Pearse Doherty asked the Minister for Finance if employees at the Bank of Ireland, in which he is the share holder of 15% of the ordinary shares and controls preference shares estimated to be worth €1.493 billion, pay a pension levy in accordance with the announcement of the previous administration on 3 February 2009; and if no such levy is paid to provide an explanation for this position. [50606/12]
View answerI propose to take Questions Nos. 74 to 78, inclusive, together.
The Pension Related Deduction (PRD) is known as the pension levy. This was a savings measure introduced in the Financial Emergency Measures in the Public Interest Act, 2009, brought in by the Exchequer to reduce the costs of pensions to the State. It only applies to people belonging to public service pension schemes and does not apply to semi-states or the private sector. Irrespective of the Minister’s shareholdings in each of the covered institutions, no public service pension schemes exist in those institutions and therefore the pension levy does not apply. Further information can be found on www.per.gov.ie/pensions where documents and FAQs on the PRD can be found.
