Wednesday, 8 May 2019

Questions (144)

Jan O'Sullivan

Question:

144. Deputy Jan O'Sullivan asked the Minister for Finance further to Parliamentary Question No. 64 of 18 April 2019, the status of the outcome of the meeting between the Revenue Commissioners and an organisation (details supplied); and if he will make a statement on the matter. [19287/19]

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Written answers (Question to Finance)

I am advised by Revenue that the meeting scheduled for 17 April 2019 with the organisation concerned took place.

I am further advised that in the course of the meeting Revenue confirmed its position that the rules and limits in relation to increases in pensions in payment as set out in the Revenue Pensions Manual does not restrict pension annuity providers paying out on historic policies that had escalators built in to them that exceeded these limits.

The Revenue Pensions Manual is in the process of being amended to make sure the aforementioned position is clear.