Tuesday, 18 June 2019

Questions (145)

Michael McGrath

Question:

145. Deputy Michael McGrath asked the Minister for Finance if as part of the work of the interdepartmental pensions reform and taxation group he will ensure that notwithstanding reforms to pension tax relief, the application of pension tax relief will continue to apply equally to both private and public sector workers; and if he will make a statement on the matter. [25334/19]

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Written answers (Question to Finance)

The Government published A Roadmap for Pensions Reform 2018 - 2023 in February last year. The Roadmap takes a holistic view of pension issues and details specific measures presented under six strands.

Implementation of the Roadmap is primarily a matter for my colleague the Minister for Employment Affairs and Social Protection and her Department, but the Interdepartmental Pensions Reform and Taxation Group (IDPRTG) was allocated a number of specific measures under the Roadmap.

The IDPRTG is chaired by the Department of Finance and includes representatives from the Department of Public Expenditure & Reform, the Department of Employment Affairs & Social Protection, Revenue and the Pensions Authority.

The actions allocated to the IDPRTG under the Roadmap derive in the main from Strand 3, which is concerned with improving the governance and regulation of supplementary pensions to, among other things, achieve scale, improve standards and simplify the provision of pensions. This includes Action 3.13 which is a review of the cost of funded supplementary pensions to the Exchequer which comprises an assessment of the economic and social benefits delivered and an evaluation of equity in the distribution of tax expenditure on pensions.

The IDPRTG has been considering these action points as part of a process that included a public consultation and is due to report to me on these matters in the coming months.

Question No. 146 answered with Question No. 128.