Dáil Éireann Debate, Thursday - 28 October 2004
253 Mr. R. Bruton asked the Minister for Social and Family Affairs if he will consider exempting part of payments of redundancy lump sums from the means test for unemployment assistance on condition that this part is put into a pension fund; his estimate of the cost of exempting €50,000 of any lump sum in this way; and if he will make a statement on the matter. [26502/04]
Amharc ar fhreagraIn assessing means for unemployment assistance purposes, account is taken of any cash income the person may have, together with the value of capital and property. Amounts held in occupational pension schemes and personal pension products such as PRSAs and retirement annuity contracts are not assessed as capital for means testing purposes while they are held in such schemes. In addition, the origin of such pension contributions, be it a redundancy lump sum or otherwise, is not relevant in this context.
