Seán Barrett (Dún Laoghaire, Fine Gael)

The Minister asked about someone who might retire at 63. If the Minister retires at 63 he can equally get an annuity as easily as an income from an ARF. The point I am trying to put across to the Minister is that if A draws his income from an annuity, he is not asked to pay PRSI. If B draws an income from an ARF which is exactly the same as it is a fund, the same as an annuity is a fund, one is now being asked to pay PRSI and one gets no benefits.

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