Oireachtas Joint and Select Committees
Wednesday, 6 March 2013
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Finance Bill 2013: Committee Stage
2:45 pm
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
Outside of the AVC example, if somebody puts in €100, it costs them €59 at the point of entry and then when they draw down that €100, they will only receive €52 back because they are paying the marginal rate of tax if they are at the marginal rate of 41% and the USC of 7%. Therefore, they are only getting €52 back.
No comments