As flagged in the national recovery plan and as specified in the budget speech today, it has been decided to act on the commission's recommendations. A further reduction in the earning limits for pension contribution purposes is being made and the rate at which the national distribution for approved retirement funds is to be calculated is to be increased. The elimination of employee PRSI and pension contributions in 2011 and the changes to employer PRSI relief on employee pension contributions, which were announced today, will be dealt with in the context of legislation with which my colleague the Minister for Social Protection will deal. The Financial Resolutions before us give legislative effect, therefore, to the following budget measures pending the passing into law of the finance Bill of 2011.

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