Mr. Tim Duggan:

The tax arrangements for My Future Fund will be set out by the Department of Finance in the forthcoming finance Bill. I am told they will mirror what is currently done for PRSAs, including how trivial funds are handled, as I said in the opening statement. For PRSAs a 25% lump sum is tax free and then the rest has to be invested and drawn down over time. In the case of a trivial pension, which is a pot of less than €30,000, it can be drawn down tax free regardless of whether it is in excess of 25% of the fund or not.