Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

A person does not have to vest but the whole point with an imputed distribution is that regardless of whether he or she draws down the money from the pension fund, there has to be a calculation made that a certain proportion of it is drawn down and the person has to pay tax on that. It goes to the spirit of pension tax relief, whether we agree with it or not. It is deemed as deferred taxation and at some point the State has to receive that taxation back. I am trying to figure out why, for an ARF, we have an age of 61 for 4% and 71 for 5% and then 6% if the pension pot is above €2 million but we now have a different age of 75 for a PRSA. Why could that not be earlier? This is an issue of tax planning because the longer the imputed distribution does not take place, the more beneficial it is to the individual.