Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

This question relates to the initiative in budget 2013 pertaining to early access to certain additional voluntary contributions, AVCs. I support this worthwhile initiative, but the figures for the drawdown thus far have been disappointing. The expectation at the time it was announced was that in the first year the additional amount would be approximately €100 million, and that the yield would be approximately €200 million over three years. I understand the actual amount raised, however, is about €25 million thus far. Has the Minister any plans to review it or to broaden the scope to make it more attractive so that more people will avail of what I think is a worthwhile initiative?

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