Terence Flanagan (Dublin North East, Fine Gael)
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Question 112: To ask the Minister for Finance his views on a matter (details supplied) regarding pensions; and if he will make a statement on the matter. [13478/11]

Michael Noonan (Limerick City, Fine Gael)
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How the pension fund levy will affect individual pensions will be a matter for individual pension scheme trustees and administrators. The chargeable persons for the purpose of the pension fund levy will be the scheme administrators, that is the trustees or other persons having the management of the assets of the pension schemes or plans. Where pension scheme assets are, for example, held in the form of contracts of assurance with life offices, the insurer will be the chargeable person. It will be up to those trustees and administrators to decide whether and how the levy should be passed on and who should be impacted and to what extent, given the particular circumstances of the pension schemes or pension plans for which they are responsible. In that regard, legislative provision has been made to allow pension scheme trustees or administrators the option to adjust the benefits payable under pension schemes or plans.