Ged Nash
Question:129. Deputy Ged Nash asked the Minister for Finance the gross amount of tax relief provided for pension contributions in each of the past five years for which full figures are available in tabular form [38623/22]
View answerWednesday, 13 July 2022
Questions (129)
Written answers
I am informed by Revenue that the costs to the Exchequer, in relation to tax reliefs provided for pension contributions, are available at the following link, for the period 2014 to 2018:
https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.
The information requested by the Deputy is available in the table rows titled “Pension Contribution (Retirement Annuity and PRSA)”, “Employees' Contributions to Approved Superannuation Schemes” and “Employers' Contributions To Approved Superannuation Schemes”. The costs for “Exemption of employers' contributions from employee BIK” for the same period are also included in this publication.
For the convenience of the Deputy, the following table sets out the relevant tax costs for the years 2014-2018:
|
Cost of tax Expenditure |
2018 €m |
2017 €m |
2016 €m |
2015 €m |
2014 €m |
|
Pension Contribution (Retirement Annuity and PRSA) |
241.3 |
229.3 |
221.3 |
216 |
214 |
|
Employees' Contributions To Approved Superannuation Schemes |
677.7 |
598.1 |
582.4 |
580.6 |
548.8 |
|
Employers' Contributions To Approved Superannuation Schemes |
173.2 |
159.8 |
158.4 |
147 |
138 |
I am further advised by Revenue that 2019 information will be published in the coming weeks at the same location. The total cost for “Pension Contribution (Retirement Annuity and PRSA)” and “Employees' Contributions to Approved Superannuation Schemes” for 2019 was €1,111m.
I trust this is of assistance.