215. Deputy Pearse Doherty asked the Minister for Finance his views on the assertion made by the Irish Association of Pension Funds, where it claims that the Programme for Government outlined the States intention to apply a cap of €60,000 on pensions that receive State support; anyone who wants and can afford a pension income in excess of €60,000 can then provide for it themselves through unsupported savings, the vast majority of ordinary pension savers, 98%+, will continue to be unaffected as they are average workers saving average amounts, the introduction of this measure could ensure the same rules apply to all those saving for retirement - whether they public servants, private sector workers or the self-employed; critically, this measure will save the State over €400m per annum and enable it to exceed the revenue target set for the pensions sector; the impact will only be felt by approximately 27,000 higher paid taxpayers rather than the 555,000 that would be hit by a change to the marginal rate of tax relief; those affected are employees typically earning in excess of €125,000 per annum, to state whether the assertion is correct; if the figures tally with his Department's figures; the way this €60,000 cap would apply; and if the Government is considering implementing such a proposal. [47486/12]

Summary

215. Deputy Pearse Doherty asked the Minister for Finance his views on the assertion made by the Irish Association of Pension Funds, where it claims that the Programme for Government outlined the States intention to apply a cap of €60,000 on pensions that receive State support; anyone who wants and can afford a pension income in excess of €60,000 can then provide for it themselves through unsupported savings, the vast majority of ordinary pension savers, 98%+, will continue to be unaffected as they are average workers saving average amounts, the introduction of this measure could ensure the same rules apply to all those saving for retirement - whether they public servants, private sector workers or the self-employed; critically, this measure will save the State over €400m per annum and enable it to exceed the revenue target set for the pensions sector; the impact will only be felt by approximately 27,000 higher paid taxpayers rather than the 555,000 that would be hit by a change to the marginal rate of tax relief; those affected are employees typically earning in excess of €125,000 per annum, to state whether the assertion is correct; if the figures tally with his Department's figures; the way this €60,000 cap would apply; and if the Government is considering implementing such a proposal. [47486/12]

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• Tax Reliefs Application

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