Olivia Mitchell (Dublin South, Fine Gael)
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Question 144: To ask the Minister for Finance if, in view of the fact that public sector employees in commercial State bodies are not subject to the public sector pension levy, if he will clarify if they are subject to the 0.6% private pension levy; and if they are not, if he will clarify the exact nature of their pension schemes; and if he will make a statement on the matter. [15477/11]

Michael Noonan (Limerick City, Fine Gael)
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On the issue of the pension-related deduction in the public service, the bodies included in the Schedule to the Financial Emergency Measures in the Public Interest Act 2009 (being bodies to which the definition of "public service body" does not apply) have a commercial remit. Because of this, their pay and pensions are not funded by the Exchequer and it was not considered to be appropriate to include them in the pension-related deduction provision, which was primarily an expenditure savings measure.

As to the pension levy being introduced to fund the Jobs Initiative, the levy will apply to funded pension arrangements whether in the private sector or the State sector. A stamp duty of 0.6% will be applied to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation, as defined in section 4(1)(a) Finance (No 2) Bill 2011 as passed by the Dáil.

In the absence of any detail on the particular scheme or schemes the Deputy has in mind, I am not in a position to comment further.