Written answers

Wednesday, 12 October 2005

Department of Finance

Pension Provisions

9:00 pm

Paul McGrath (Westmeath, Fine Gael)
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Question 217: To ask the Minister for Finance the cost per annum, to the State, of providing tax free lump sums, over the past ten years to private sector occupational pension scheme members per year; the number of members who benefit and the amount of benefit enjoyed by the top ten members for each year; and if he will make a statement on the matter. [28250/05]

Paul McGrath (Westmeath, Fine Gael)
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Question 218: To ask the Minister for Finance the annual cost to the State of providing tax free lump sums over the past ten years to all pension scheme members; the number of members who benefited and the amount of benefit enjoyed by the top ten members for each year; and if he will make a statement on the matter. [28251/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I propose to take Questions Nos. 217 and 218 together.

I am informed by the Revenue Commissioners that it is not possible to provide the cost sought by the Deputy in regard to the payment of tax free lump sums because the relevant data is not captured in such a way as to make this possible. The only relevant data available are estimates of the cost of tax forgone to the Exchequer derived at aggregated level from very tentative estimates of aggregated amounts paid out under pension schemes. The tentative estimates of cost are based on the taxpayer's marginal rate and the figures, which are available for the years 1997 to 2002, the latest available, are as follows:

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