Eric J. Byrne
Question:67. Deputy Eric Byrne asked the Minister for Finance when the pension levy (details supplied) will come to an end; and if he will make a statement on the matter. [39537/14]
View answerThursday, 16 October 2014
Questions (67, 68, 73)
Finian McGrath
Question:68. Deputy Finian McGrath asked the Minister for Finance his views on a matter (details supplied) regarding the pension levy; and if he will make a statement on the matter. [39575/14]
View answer
Terence Flanagan
Question:73. Deputy Terence Flanagan asked the Minister for Finance if there are plans to abolish the pension levy (details supplied); and if he will make a statement on the matter. [39678/14]
View answerWritten answers
I propose to take Questions Nos. 67, 68 and 73 together.
The position in this matter is that I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 would be abolished after this year. I did, however, introduce an additional levy on pension fund assets at a rate of 0.15% for 2014 and 2015. I did this to continue to help fund the Jobs Initiative and also to help make provision for potential State liabilities which may emerge from difficulties facing pension funds.
The abolition of the 0.6% levy after this year and the application of the 0.15% levy for this year and next are reflected in the Finance (No. 2) Act 2013 legislation which gave legal effect to these Budget 2014 announcements.
In my Budget 2015 speech on Tuesday last, I again confirmed the ending of the 0.6% levy this year and the ending of the lower 0.15% levy next year.