Michael McGrath
Ceist:217. Deputy Michael McGrath asked the Minister for Finance the yield to date from the budget 2013 measure allowing pension scheme savings; and if he will make a statement on the matter. [33400/14]
Amharc ar fhreagraWednesday, 17 September 2014
Ceisteanna (217)
Freagraí scríofa
I am informed by the Revenue Commissioners that to date 10,398 individuals have availed of the option provided under section 782A of the Taxes Consolidation Act 1997 (as inserted by the Finance Act 2013) to access, before retirement, up to 30% of their Additional Voluntary Contributions (AVCs) with the amount withdrawn being subject to income tax (the withdrawals are exempt from Universal Social Charge). I assume this is the measure the Deputy is referring to in his question. In the period up to 30 June 2014 (the latest date for which details are available), the funds withdrawn under this option amount to €77,217,882.82 and income tax of €30,340,329.74 has been paid.