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Written Answers — Department of Social Protection: Pension Provisions (8 Oct 2013)

Joan Burton: .../she may do so if the rules of the particular scheme permits such contributions to be made. If the scheme rules do not permit AVCs to be made, then a Standard Personal Retirement Savings Account (PRSA) must be offered by his /her employer for the purpose of making AVCs.

Written Answers — Department of Finance: Pension Provisions (26 Sep 2013) See 1 other result from this answer

Michael McCarthy: 80. To ask the Minister for Finance if the AVC withdrawal scheme introduced in Budget 2013 will be extended to cover PRSA's to assist persons to access part of their pension savings particularly in cases where pension schemes are performing poorly. [40245/13]

Written Answers — Department of Finance: Pension Provisions (26 Sep 2013)

Michael Noonan: ...27 March 2013 during which they can opt to draw down, on a once off basis, up to 30% of the accumulated value of additional voluntary contributions (AVCs). Administrators of AVC funds (including PRSA administrators) are required to provide, within 15 working days of the end of each quarter, commencing with the quarter ending on 30 June 2013, certain statistical information to Revenue in...

Written Answers — Department of Finance: Pension Provisions (9 Jul 2013)

Michael Noonan: ...pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. This is a restricted measure which enables rather than incentivises individuals to access part of their pension savings beyond their regular or compulsory pension...

Seanad: Social Welfare and Pensions (Miscellaneous Provisions) Bill 2013: Second Stage (13 Jun 2013)

Fidelma Healy Eames: The Minister might explain the fines regime for personal retirement savings accounts, PRSA. I commend the Minister on the pensions council. It is a good idea because the pensions area is very complex. Will the eight members the Minister is to nominate be from the industry? When will this happen? I know they will be unpaid but will they receive expenses? Section 26 regards the direction...

Written Answers — Department of Finance: Pension Provisions (11 Jun 2013)

Michael Noonan: ...pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. Where AVCs are subject to a pension adjustment order, both parties to the order may exercise the option independently in respect of their respective...

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 — Department of Finance: Pension Provisions (30 Apr 2013)

Michael Noonan: ...pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. Where AVCs are subject to a pension adjustment order, both parties to the order may exercise the option independently in respect of their respective "share" of the...

Written Answers — Department of Finance: Pension Provisions (17 Apr 2013)

Michael Noonan: ...pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. Where AVCs are subject to a pension adjustment order, both parties to the order may exercise the option independently in respect of their respective...

Written Answers — Department of Finance: Tax Collection (16 Apr 2013)

Timmy Dooley: To ask the Minister for Finance if he has given any consideration to allowing consumers in debt to Revenue to transfer funds in PRSA accounts as a means of discharging their liability; and if he will make a statement on the matter. [16201/13]

Written Answers — Department of Finance: Pension Provisions (16 Apr 2013)

Michael Noonan: ...pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. Where AVCs are subject to a pension adjustment order, both parties to the order may exercise the option independently in respect of their respective...

Finance Bill 2013: Report Stage (Resumed) (13 Mar 2013)

Michael Noonan: ...of that amount, if they have set aside in an AMRF a capital amount greater than €63,500, the amount above €63,500 immediately becomes an ARF. Similar provisions are made to deal with situations in which an individual retains his or her pension pot in a vested PRSA rather than exercising the ARF option. Deputy Doherty's amendments Nos. 6 to 10, inclusive, would deny these...

Finance Bill 2013: Report Stage (Resumed) (13 Mar 2013)

Michael Noonan: ...of that amount, if they have set aside in an AMRF a capital amount greater than €63,500, the amount above €63,500 immediately becomes an ARF. Similar provisions are made to deal with situations in which an individual retains his or her pension pot in a vested PRSA rather than exercising the ARF option. Deputy Doherty's amendments Nos. 6 to 10, inclusive, would deny these...

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

Michael Noonan: ...b) Where on or after 6 February 2011 and before the date of passing of this Act one or more than one relevant option is exercised by an individual, or an individual has one or more than one vested PRSA, and in the exercise of the relevant option or options or in the vesting of the PRSA or PRSAs, an amount or value of assets is transferred to an approved minimum retirement fund (by way of...

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael McGrath: ...the effect of cyclicality in the economy. I believe the proposals in the Finance Bill are limited in scope and unlikely to have much take-up. Employer paid contributions, regular employee contributions, self-employed personal pensions and normal personal retirement savings account, PRSA, contributions are excluded, as are AVCs that are being made for the purposes of purchasing notional...

Topical Issue Debate: Redundancy Payments (14 Feb 2013)

John Perry: ...up to the date of the winding up; all sums due in respect of sick leave up to the date of the winding up; all contributions due from IBRC in respect of any superannuation benefits scheme, including a PRSA, and any contributions deducted from employees as at the date of the winding-up; statutory redundancy lump sums, less the amount of any rebate due from the Department of Jobs, Enterprise...

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]

Joint Oireachtas Committee on Education and Social Protection: Report on Pension Charges: Discussion with Department of Social Protection (6 Feb 2013)

Willie O'Dea: ...with the result of that investigation? Before I go to another meeting, may I make one more point? I take the Chairman's point on the private sector providing a competitive service, but in the PRSA area, which is also part of the private sector, there is a precedent for maximum charges. I think that should be applied across the industry. Transparency alone will not do it and it will...

Written Answers — Department of Finance: Pension Provisions (22 Jan 2013)

Michael Noonan: The transfer of an occupational pension scheme member’s pension fund benefits or a Personal Retirement Savings Account (PRSA) contributor’s PRSA assets to an overseas pension arrangement is permitted, subject to the transfer complying with the Department of Social Protection’s “Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer...

Written Answers — Department of Finance: Property Valuations (20 Dec 2012)

Michael Noonan: .... In Autumn 2012, a national register of property values was published for the first time based on actual transactions in the years 2010 to 2012. The register is published by the Property Services Regulatory Authority (PRSA) based on Stamp Duty data from the Revenue Commissioners and is updated on an on-going basis. The distribution from the register results in a higher incidence of...

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