Finian McGrath (Dublin North Central, Independent)
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Question 89: To ask the Minister for Finance the position regarding a matter (details supplied). [9392/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Under current rules relating to pension benefits, part of those benefits can be provided by way of a tax-free lump sum payment on retirement. The maximum lump sum benefit that can be achieved at normal retirement age by an employee is one and a half times final remuneration. This arrangement is available under pension schemes in both the public and private sectors. For certain individuals, a tax-free lump sum calculated on the basis of 25% of their pension fund is allowable on retirement, as an alternative to the lump sum calculated on the basis of final remuneration. I have no plans at this point in time to alter the tax treatment of retirement lump sum payments.