Friday, 6 September 2019

Questions (158)

Róisín Shortall

Question:

158. Deputy Róisín Shortall asked the Minister for Finance the estimated revenue from reducing the maximum allowable pension fund to €1.7 million. [36681/19]

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Written answers (Question to Finance)

The Standard Fund Threshold is the maximum allowable pension fund allowed at retirement for tax purposes and was introduced in Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements.  

Information on the numbers and values of individual pension funds or on individual accrued benefits in pension schemes is not generally required to be supplied to Revenue.  Therefore, there is no readily available underlying data or methodology on which to base reliable estimates of any possible yield that might be realised from the reduction in the Standard Fund Threshold outlined.