Oireachtas Joint and Select Committees

Wednesday, 8 May 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming ECOFIN Council: Discussion with Minister for Finance

5:50 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent)
Link to this: Individually | In context | Oireachtas source

I accept that the Minister cannot give an answer now. Notwithstanding the individual, about which, I have very strong feelings, if that decision is allowed stand it is, economically speaking, very serious because this guy put €450,000 into a six-year savings account. He was able to get out his 25%. It was taxed as the pension funds were taxed at 0.6% a year so it is cash recognised as a pension. Will the Minister examine that decision closely because it sends out a very chilling message to people who have pension cash in their banks?