Willie Penrose (Longford-Westmeath, Labour)
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68. To ask the Minister for Finance his plans, in terms of the pension levy, which has significantly impacted upon pensions of retired workers who are on fixed incomes; if the said levy will be abolished in 2015; and if he will make a statement on the matter. [8648/15]

Michael Noonan (Limerick City, Fine Gael)
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The pension fund levy was introduced in 2011 to fund the Jobs Initiative, which has been very successful in both helping to create and to maintain employment in this economy. The levy has applied at a rate of 0.6% for the years 2011 to 2013, at an aggregate rate of 0.75% for 2014 and will apply at a reduced rate of 0.15% for this year. In accordance with the provisions in section 125B of the Stamp Duties Consolidation Act 1999, the stamp duty levy on pension fund assets will end after 2015.