Richard Bruton (Dublin North Central, Fine Gael)

I move amendment No. 8:

In page 15, between lines 2 and 3, to insert the following:

3.—Section 531A(1) of the Taxes Consolidation Act 1997 is amended by the substituting of the following for the definition of "aggregate income"

"'aggregate income for the year of assessment', in relation to an individual and a year of assessment, means the aggregate of the individual's relevant emoluments in the year of assessment, including relevant emoluments that are paid in whole or in part for a year of assessment other than the year of assessment during which the payment is made, and relevant income for the year of assessment, but excluding any amounts paid by an employer under section 787E(1) and section 787E(2)."

This amendment provides for the tax treatment of PRSAs to be on a par with other pension provisions. It is a reasonable request and I hope the Minister will accede to it. It is either a yea or nay question. PRSAs were introduced to encourage people to take their pensions more seriously where employers have not been in the habit of providing cover. It appears to be in conflict with Government aims if the tax treatment would be disadvantageous in comparison with other pension contributions. I am sure the Minister for Social and Family Affairs will give this amendment a particularly warm response.

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