Results 1-20 of 345 for prsa

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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016) See 3 other results from this debate

Michael Noonan: I move amendment No. 54:In page 22, to delete lines 8 to 15 and substitute the following:"(a) the PRSA administrator—(i) on or before 31 March 2017—(I) commences payment of an annuity to the PRSA contributor, (II) pays a lump sum to the PRSA contributor, in accordance with section 787G(3)(a), (III) makes assets of the PRSA available to the PRSA contributor, or (IV) transfers...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013) See 3 other results from this debate

Michael Noonan: I move amendment No. 23: In page 26, to delete lines 29 to 42 and substitute the following:" "(2C) A PRSA product (within the meaning of Part X of the Pensions Act 1990) approved under section 94 of that Act, shall not cease to be an approved product where, notwithstanding anything contained in the terms of the product as approved, the PRSA administrator makes an amount available from the...

Written Answers — Pension Provisions: Pension Provisions (20 May 2009)

Mary Hanafin: I understand that the Deputy is questioning what obstacles there may be in place for Personal Retirement Savings Account (PRSA) holders wishing to switch providers. Legislation covering the operation of PRSAs is detailed in Part X of the Pensions Act 1990. Specifically, Section 108 of that Act deals with transfers between PRSA providers. This section prevents obstacles to transfers by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023) See 1 other result from this debate

Michael McGrath: This section amends section 787K of Part 30 of the Taxes Consolidation Act to remove the upper age limit on personal retirement savings accounts, PRSAs. The amendment implements a recommendation of the report of interdepartmental pensions reform and taxation group with a view to improving and simplifying the pension regime in Ireland and leading towards a whole-of-life PRSA. A PRSA is a...

Written Answers — Department of Finance: Pensions Reform (28 Jul 2020)

Paschal Donohoe: Personal Retirement Savings Accounts (PRSAs) are low cost, easy-to-access, private pension savings vehicles designed to allow individuals save for retirement flexibly and transfer their pension funds between jobs. They are available to anyone regardless of employment status. The relevant legislation setting out the treatment of PRSAs is contained in Chapter 2A of Part 30 of the Taxes...

Written Answers — Department of Finance: Tax Code (11 Jul 2017) See 1 other result from this answer

Paschal Donohoe: I am advised by Revenue that the relevant legislation setting out the treatment of PRSAs is contained in Chapter 2A of Part 30 of the Taxes Consolidation Act (TCA) 1997. Except in limited circumstances, benefits can not be drawn down until the individual is at least 60 years of age, as set out in section 787K of the TCA 1997. The amount of lump sum that can be taken on retirement...

Written Answers — Department of Finance: Pension Provisions (2 Dec 2015)

Michael Noonan: The transfer of an occupational pension scheme member's pension fund benefits or a Personal Retirement Savings Accounts (PRSAs) contributor's PRSA assets to an overseas pension arrangement is permitted, subject to the transfer complying with the Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations, 2003 (the Regulations) and Revenue...

Written Answers — Pension Provisions: Pension Provisions (12 May 2011) See 1 other result from this answer

Michael Noonan: ...benefit-in-kind. The USC also applies to a person's aggregate income before granting relief in respect of pension contributions, including contributions to a personal retirement savings account (PRSA), a personal pension plan, additional voluntary contributions or a retirement annuity contribution. For the purposes of determining the overall contribution to a PRSA, the amount contributed...

Written Answers — Department of Finance: Tax Reliefs Data (17 Apr 2018)

Paschal Donohoe: ...To Approved Superannuation Schemes (4) 580.6 618,900 PQ/16596 Exemption of employers' contributions from employee BIK (4) 559 342,100 PQ/16597 Pension Contribution (Retirement Annuity and PRSA) 215 96,200 ‘Employers' Contributions To Approved Superannuation Schemes (4)’, ‘Employees' Contributions To Approved Superannuation Schemes (4)’, ‘Exemption of...

Written Answers — Pension Provisions: Pension Provisions (1 Dec 2005)

Mary Hanafin: Arising from the provisions of the Pensions (Amendment) Act 2002, employers are obliged to facilitate access to personal retirement savings accounts, PRSAs, for some categories of employees in certain circumstances. The obligation arises where the employer does not operate a pension scheme, limits eligibility for membership of a scheme or imposes a waiting period for membership greater than...

Written Answers — Department of Finance: Tax Code (9 Apr 2024)

Pearse Doherty: .... To ask the Minister for Finance to confirm if his Department received a submission in June 2022 from an organisation (details supplied) regarding the tax treatment of employer contributions to a PRSA; his views on the organisation’s view that “if the current BIK charge on employer PRSA contributions is removed and such contributions are no longer considered for tax purposes...

Seanad: Finance Bill 2011 (Certified Money Bill): Committee Stage (Resumed) (29 Jan 2011)

Brian Lenihan Jnr: ...recommendation appears to seek to grant relief from the charge in respect of payments to a personal retirement savings account made by an employer. An employer's contribution to an employee's PRSA is treated as a benefit in kind for income tax purposes. The employee is then entitled to claim personal tax relief, subject to the relevant ceilings, in respect of that contribution, as if he...

Written Answers — Department of Finance: Pension Provisions (7 Feb 2013) See 1 other result from this answer

Patrick O'Donovan: To ask the Minister for Finance if the AVC withdrawal scheme introduced in Budget 2013 will cover PRSA's or if it is just occupational pensions; if it does not include PRSA's will it be included; and if he will make a statement on the matter. [6523/13]

Written Answers — Department of Finance: Pension Provisions (22 Sep 2022)

Aindrias Moynihan: 146. To ask the Minister for Finance with reference to the one-member company pensions if the proposed changes to the PRSA will replicate all aspects of existing one-member arrangements; and if the enhanced PRSA will be included in the Finance Act 2022; and if he will make a statement on the matter. [46243/22]

Written Answers — Department of Finance: Tax Code (28 Mar 2018)

Paschal Donohoe: ...consent. In such situations benefits are restricted. In the case of approval of personal pension arrangements such as retirement annuity contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) benefits can be taken from age 60, with early retirement permitted in certain circumstances. In relation to all of these pension arrangements, benefits can be taken at any stage where...

Written Answers — Department of Finance: Pension Provisions (26 Jan 2017)

Michael Noonan: ...(TCA) 1997. I introduced these changes in order to close off certain tax-planning opportunities involving the use of Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs). In providing very generous tax relief on contributions to private pension arrangements, the quid pro quois that when benefits are paid from the arrangements they are, generally, taxed at...

Finance (No. 2) Bill 2011: Committee and Remaining Stages (9 Jun 2011)

Brian Hayes: I move amendment No. 17: In page 8, line 40, to delete "available" and substitute "available to the PRSA contributor". This is a technical amendment to paragraph (c) in the definition of "scheme" which relates to PRSAs. It simply clarifies that the lump sum referred to is a lump sum that has been paid or made available to the PRSA contributor.

Written Answers — Department of Finance: Pension Provisions (23 May 2013)

Michael Noonan: ...that a possible scenario in which such a situation could arise would be where, in addition to paying contributions to an occupational pension scheme, an individual is also making contributions to a PRSA (other than to an AVC PRSA associated with the occupational pension scheme). A PRSA can be effected by anyone with or without a source of relevant earnings, which, in the context of PRSAs,...

Written Answers — Fiscal Policy: Fiscal Policy (8 Mar 2005)

Brian Cowen: ..., with effect from 15 September 2003, any employer whose employee pension arrangements do not include an AVC facility to offer access to at least one standard personal retirement savings account, PRSA, to be used for AVC purposes, that is, the topping up of the pension benefits. Even if an AVC facility is provided under the rules of an employer's occupational pension scheme, an employee...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Pearse Doherty: Now that the proprietary director can pay himself or herself, or impact his or her remuneration package, under a PRSA which is not subject to the age limit restrictions, that allows him or her to do something that was not available under the occupational scheme because there are limits in terms of the age-related percentage limits that kick in, but that do not kick in under PRSA.