Colette Kelleher (Independent) | Oireachtas source

I move recommendation No. 14:

In page 109, between lines 17 and 18, to insert the following:

“59. The Minister shall, within four months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a review in respect of the current policy of marginal rate private pensions tax relief and how it relates to national pensions strategy for Ireland including stated national goals on closing the gender pension gap and increasing pension coverage for those on lower to median incomes.”.

Similar to the previous recommendation, I am moving this recommendation on behalf of Senator Higgins. In terms of the issues outlined, for the corporate tax rate we have choices to make when it comes to the provision of pensions. Currently, people can get tax relief at the highest or marginal rate on private pension contributions. This should be reviewed and a report presented to the House, particularly on the way those tax breaks relate to the national pensions strategy and in the context of our goal of closing the gender pensions gap, which is a staggering 37% and increasing, in pension coverage for those on lower incomes. I expect the Minister of State to indicate that a recommendation is not needed to get a report but this is the only way to ensure that it will happen.