John Lahart
Question:118. Deputy John Lahart asked the Minister for Finance the reason that private pension holders continue to pay a pension levy; and if he will make a statement on the matter. [46711/22]
View answerTuesday, 27 September 2022
Questions (118)
Written answers
Currently, private pension holders are not required to pay a pension levy.
An annual levy was charged on pension schemes from 2011 to 2015 in accordance with section 125B of the Stamp Duties Consolidation Act 1999. The levy was introduced in the wake of the financial crash, at a time when the economy was in very serious difficulties. It was charged on the market value of assets in pension schemes held on 30 June in each year at a rate of 0.6% (2011 to 2013), 0.75% (2014) and 0.15% (2015). Liability for the levy rested with trustees of pension schemes and others responsible for the management of pension fund assets.
The levy was discontinued from 2016.
Question No. 119 answered with Question No. 114.