Thomas Pringle
Question:155. Deputy Thomas Pringle asked the Minister for Finance the estimated amount that would be generated by reducing the earnings cap for pension contributions from €115,000 to €75,000. [53280/18]
View answerTuesday, 18 December 2018
Questions (155)
Written answers
I am advised by Revenue that a Ready Reckoner providing estimated impacts for potential changes to a wide range of taxes and duties is available at www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx.
Page 11 of the Ready Reckoner presents an estimate of the yield that would arise from reducing the earnings cap for pension contributions in the manner outlined by the Deputy. According to this data, the estimated yield that would be generated by reducing the earnings cap for pensions contributions to €75,000 would be €85m in a full year.
I would also note that reducing this ceiling would impact only on higher rate tax payers.