Pensions Levy Issues

Dáil Éireann Debate, Wednesday - 13 November 2013

Wednesday, 13 November 2013

Questions (45)

Lucinda Creighton

Question:

45. Deputy Lucinda Creighton asked the Minister for Finance further to Parliamentary Questions Nos. 164 and 165 of 5 November 2013, the total unique number of chargeable persons that have been subjected to the levy in each year 2011, 2012 and 2013; if he will provide for each of those years the total amount of assets in euro of which the levy was taxed on the chargeable persons in 2011, 2012 and 2013; if the total asset base has increased or reduced during those three years; and if he will make a statement on the matter. [48409/13]

Written answers

Minister for Finance

Section 4 of the Finance (No.2) Act 2011 provided for a levy on funded pension schemes and personal pension plans. The levy is charged at a rate of 0.6% on the aggregate of the market value of assets of a pension schemes at the valuation date. In the case of all pension scheme assets held in the form of contracts of assurance and all defined contribution occupational scheme assets, the valuation date is the 30th of June each year. In the case of defined benefit occupational pension schemes and small self administered schemes, for assets of such schemes held other than by way of contracts of assurance, if it is customary to prepare accounts to an appropriate standard to a different date, the valuation date is the last day of the accounting period of the scheme ending in the preceding 12 months. The number of chargeable persons making returns for the levy in each of the years 2011, 2012 and 2013 and the chargeable amounts are as follows:

Year	No. of Chargeable Persons	Chargeable Amounts
2011	357	€77.1bn
2012	307	€80.5bn
2013	306	€80.5bn

The chargeable amounts are based on the amount of the levy paid.