Róisín Shortall (Dublin North West, Independent)
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109. To ask the Minister for Finance further to his announcement in budget 2013 that persons making additional voluntary contributions used to supplement their main scheme retirement benefits would be permitted to withdraw up to 30% of the value of those contributions, the number of persons who have availed of this to date; the total value of funds withdrawn to date; and his estimate of the revenue generated from the measure. [55066/13]

Michael Noonan (Limerick City, Fine Gael)
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Finance Act 2013 provides members of occupational pension schemes with a three-year window of opportunity from 27 March 2013 during which they can opt to draw down, on a once off basis, up to 30% of the accumulated value of additional voluntary contributions (AVCs). This provision includes additional voluntary PRSA contributions made to AVC PRSAs. Administrators of AVC funds (including PRSA administrators) are required to provide, within 15 working days of the end of each quarter, commencing with the quarter ending on 30 June 2013, certain statistical information to the Revenue Commissioners in relation to AVC pre-retirement transfers or encashments made during each quarter. The budget estimate of expected yield in 2013 from this measure was €100 million.

The information that has been provided to Revenue to date for the quarters ending 30 June 2013 and 30 September 2013 is as follows:

- The number of transfers made: 7257

- The aggregate value of transfers made: €50.1 million

- The tax deducted from the aggregate value of the transfers made: €19.8 million

The corresponding details relating to the transfers/encashments made in the quarter ended 31 December are not required to be returned to Revenue until January 2014.