Derek Nolan (Galway West, Labour) | Oireachtas source

The first petition for consideration is petition No. 00054/12 from Mr. Tom Kelly concerning the imposition of the 0.6% pension levy on the pensions of former Tara Mines workers. The Finance (No. 2) Act 2011 introduced a 0.6% pension levy per annum on certain private pension funds and was set to apply for a four year period from 2011 to 2014, inclusive. At the time the Minister for Finance expressed the view that there was scope for the pensions industry to absorb the impact of the levy from fee income and charges and had written to the industry in that regard. The Department of Finance's question-and-answer fact sheet on the imposition of the levy stated the chargeable person for the pension levy would be the trustees or other persons, including insurance companies, that had responsibility for the management of the pensions scheme. We discussed this issue in private session. Does any member want to make a contribution?