Brendan Howlin (Wexford, Labour)
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Question 545: To ask the Minister for Finance if a person who has no personal pension but whose spouse has a pension of €29,000 per annum can avail of the SSIA pension bonus scheme; if he will take steps to ensure that homemakers who have no occupational pension scheme are not excluded from the SSIA pension bonus scheme; and if he will make a statement on the matter. [1587/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised by the Revenue Commissioners that a person who has no personal pension but whose spouse has a pension of €29,000 per annum can avail of the Pensions Incentive Tax Credits scheme subject to the individual satisfying the following conditions: Be an SSIA holder; the SSIA holder's gross income (i.e. before all deductions) in the tax year before the year in which the SSIA matures does not exceed €50,000; the SSIA funds are invested within 3 months of the maturity of the SSIA.

Homemakers, and all other individuals, who have no occupational pension can also avail of the incentive subject to them satisfying the conditions outlined above. In addition, and in accordance with my statement in this matter of 29th September 2006, SSIA funds invested in pension products should remain there for at least 12 months in order to retain the tax credits.