Written answers

Tuesday, 6 December 2005

Department of Finance

Pension Provisions

9:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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Question 246: To ask the Minister for Finance his views on whether it would be timely to review the linking of lump sum payments from pension funds to retirement age and instead allow the lump sum to be paid at 65 leaving persons the option to work on beyond this age if they wish. [38016/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I take it that the Deputy is referring to the tax rules which in general restrict the payment of benefits, including the tax free lump sum at any time before the individual's retirement from the employment in question. I refer the Deputy to the longstanding practice of Ministers for Finance not to comment on what may or may not be contained in upcoming budgets. I do not intend to depart from that approach.

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