Dáil Éireann Debate, Tuesday - 1 October 2013
199. Deputy Kevin Humphreys asked the Minister for Finance if the budgetary measure announced in December 2013 of cutting the tax relief on pensions of more than €60,000 would be or has been implemented; the estimated savings from the measure; and if he will make a statement on the matter. [40656/13]
Amharc ar fhreagraIn my Budget 2013 speech, I announced that changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. An examination of the various options for change, including possible changes to the Standard Fund Threshold (SFT) regime, is continuing. An estimated full year saving of €250 million was provided for in respect of these changes, as outlined on page A 10 of the Budget 2013 booklet. The Budget 2013 booklet makes clear, however, that the savings figure is provisional as further detailed analysis of the necessary changes and their impact would be required. That detailed analysis is ongoing.
