Finian McGrath (Dublin North Central, Independent)
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55. To ask the Minister for Finance if he will provide an update on the pension levy; when this temporary measure will terminate; and if he will make a statement on the matter. [38968/14]

Michael Noonan (Limerick City, Fine Gael)
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The position in this matter is that I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 would be abolished after this year. I did, however, introduce an additional levy on pension fund assets at a rate of 0.15% for 2014 and 2015. I did this to continue to help fund the Jobs Initiative and also to help make provision for potential State liabilities which may emerge from difficulties facing pension funds.

The abolition of the 0.6% levy after this year and the application of the 0.15% levy for this year and next are reflected in the Finance (No 2) Act 2013 legislation which gave legal effect to these Budget 2014 announcements.