Fidelma Healy Eames (Fine Gael)

The programme for Government indicated that €800 million would be made up through pensions. The pension levy is expected to earn the State €1.8 billion over four years. If we reduce tax relief on pensions, we will kill off the attractiveness of investing in a pension that is good for the State and individuals. Life expectancy is now longer and if we decrease the tax relief on pensions from 41% to 20%, we will almost make them disappear. I have evidence that pension advisers are now finding it difficult to convince people to buy pensions. We would be cutting off our nose to spite our face.