335. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he has studied the impact on holders of combined contribution pensions who are prevented from accessing their total savings due to the requirements of the need for proof of an independent pension of €12,700, Approved Retirement Fund, ARF, in respect of whom the State appears to attempt to provide for their retirement by way of a nominal payment as low as €1,200 per annum, which can have virtually no impact on their quality of life, but who could benefit in a variety of ways if allowed to draw down their full entitlement in a single payment subject to normal taxation or, at least, if consideration may be given to their availing of the most beneficial option in the circumstances; and if he will make a statement on the matter. [41921/14]

Summary

335. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he has studied the impact on holders of combined contribution pensions who are prevented from accessing their total savings due to the requirements of the need for proof of an independent pension of €12,700, Approved Retirement Fund, ARF, in respect of whom the State appears to attempt to provide for their retirement by way of a nominal payment as low as €1,200 per annum, which can have virtually no impact on their quality of life, but who could benefit in a variety of ways if allowed to draw down their full entitlement in a single payment subject to normal taxation or, at least, if consideration may be given to their availing of the most beneficial option in the circumstances; and if he will make a statement on the matter. [41921/14]

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• Defined Benefit Pension Schemes

  xml · EN · 4 November 2014

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