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Seanad: Finance Bill 2014: Committee Stage (10 Dec 2014)

Katherine Zappone: ...It is important to have that technical clarification. I think there is an anomaly here. Is the Minister of State saying that if the Government were to change this, in theory, folks who take out a PRSA - generally lower-paid and part-time workers - could potentially get more benefit or tax relief than those who have occupational pensions? Is that the theory? I wonder if that will...

Seanad: Finance Bill 2014: Committee Stage (10 Dec 2014)

Katherine Zappone: ...urgently. The OECD found that only 41.3% of workers, including those in the public sector, aged between 20 and 69 years were enrolled in a funded pension plan. As the Minister of State is aware PRSAs were first introduced in 2002 and were regarded as an attractive means of increasing pension coverage particularly in certain sectors of the workforce. PRSAs are a far more straightforward...

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