Oireachtas Joint and Select Committees

Wednesday, 14 December 2022

Joint Oireachtas Committee on Social Protection

Automatic Enrolment Retirement Savings Scheme Bill: Discussion (Resumed)

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source

Sorry, could I just clarify something because this relates to the point I made? The Government consists of the 15 Ministers. To my understanding, the Government decided that if you are in auto-enrolment, you are subject to the top-up approach, the straight-cash approach, but that if you continue in a private occupational pension scheme, the Government still gives you 40% off. Under one, you are getting 40% off. I asked what discussion was had with the Department of Finance so it would follow the lead of the Department of Social Protection and give only 30% on the occupational pension relief so there would be equality for all and that the good lead given in one Department would, on the basis of a whole-of-government approach, mean equality in respect of all those paying into their pension funds, or the wealthy, and currently subject to the 40% rate. The original idea of the Department of Social Protection was that everybody would get the same tax relief on pensions.

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