54. Deputy Micheál Martin asked the Minister for Finance his response to the statement of the Pensions Ombudsman given to the Joint Oireachtas Committee on Finance and Public Expenditure that the imposition of a 0.6% levy on private sector pension schemes in 2011 was legal but not necessarily fair; and that Government statements at the time of the levy’s introduction, to the effect that employers could be requested or required by trustees to meet the costs of the charge, were never going to be right; that most trustees of pension funds felt that they had no choice but to reduce the pensions already in payment to pensioners as, otherwise, the full brunt of the levy would be borne by future pensioners, either active members or those with deferred or preserved benefits, and that in most cases, the effect of the reduction in payment would last for the lifetime of the pensioner; and if he will make a statement on the matter. [5061/15]

Summary

54. Deputy Micheál Martin asked the Minister for Finance his response to the statement of the Pensions Ombudsman given to the Joint Oireachtas Committee on Finance and Public Expenditure that the imposition of a 0.6% levy on private sector pension schemes in 2011 was legal but not necessarily fair; and that Government statements at the time of the levy’s introduction, to the effect that employers could be requested or required by trustees to meet the costs of the charge, were never going to be right; that most trustees of pension funds felt that they had no choice but to reduce the pensions already in payment to pensioners as, otherwise, the full brunt of the levy would be borne by future pensioners, either active members or those with deferred or preserved benefits, and that in most cases, the effect of the reduction in payment would last for the lifetime of the pensioner; and if he will make a statement on the matter. [5061/15]

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• Pension Levy

  xml · EN · 4 February 2015

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