Pearse Doherty (Donegal South West, Sinn Fein)
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Question 76: To ask the Minister for Finance if he will quantify the total value of executive pension funds in place for proprietary directors; and if he will further quantify the value of contributions made to these funds for the tax years 2006 to 2009 on which relief from corporation tax and income tax would have been granted. [22025/11]

Michael Noonan (Limerick City, Fine Gael)
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While there is no particular pension saving scheme or plan specifically designated for use by proprietary directors, many such individuals save for their retirement through what are called small self-administered pension schemes (SSAS). SSAS are typically single member pension schemes with the scheme member normally also being the owner/proprietary director of a business and the trustee of the scheme. The Revenue Commissioners have special rules in relation to the approval, operation and supervision of these schemes. Among other requirements, SSAS are required to submit annual accounts to Revenue which detail the pension contributions made to the scheme, the investment income and gains accrued and the end-year fund value.

I am advised by the Revenue Commissioners that the scheme accounts data returned in respect of SSAS in the past are not capable of being electronically captured in a way that would make it possible to provide the information requested by the Deputy for the years in question. The resources necessary to obtain the data manually would be significant and would require the diversion of such resources from other important areas of work such as audit. I am further advised by the Commissioners that section 16 of Finance Act 2010 included an amendment to the administrative requirements on SSAS which oblige the administrators of such schemes to deliver annual scheme accounts for the years ending on or after 1 January 2011 by such electronic means as are required or approved by the Revenue Commissioners. This amendment will allow for more cost-effective and timely collection of data on SSAS in future years and Revenue are progressing the necessary administrative and technical changes required to facilitate electronic delivery at an early date. There is no requirement on occupational pension schemes, generally, (other than SSASs) or personal pension plan providers or owners to provide Revenue with details of the individual or employer contributions made to these pension funds for each individual scheme member or plan beneficiary. To the extent, therefore, that proprietary directors use pension saving arrangements other than or in addition to SSAS, it is not possible to separately isolate or identify those arrangements.