Michael Noonan (Limerick City, Fine Gael)

A large proportion of the accrued value of pension funds is due to the fact that previous Governments allowed a tax break at the marginal tax rate of 40% for people to build up pension funds. Considering somebody on €80 a week is expected to pay the universal social charge because of the difficulties we are in, it is reasonable to ask pension funds to pay a levy of 0.6% for four years.

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