Maureen O'Sullivan (Dublin Central, Independent)
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308. To ask the Minister for Finance the expected savings in 2016 from the reduction of the higher rate of tax relief for private occupational pensions to 20%. [20735/15]

Maureen O'Sullivan (Dublin Central, Independent)
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309. To ask the Minister for Finance the total annual saving to the Exchequer of reducing tax relief on pension contributions, including the public service pension-related deduction, from the marginal rate to the standard rate of income tax; of a reduction in the standard fund threshold from €2.3 million to €622,500; of a reduction in the annual earnings limit for determining maximum allowable pension contributions for pension purposes from €115,000 to €75,000 per annum; and a reduction in the maximum tax-free lump sum payment allowable at retirement to €122,500. [20736/15]

Maureen O'Sullivan (Dublin Central, Independent)
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310. To ask the Minister for Finance the savings to the Exchequer of standard rating all discretionary non-pension related tax reliefs above an annual cost of €10 million. [20737/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 308 to 310, inclusive, together.

In relation to the first question, I am advised by the Revenue Commissioners that the estimated impact to the Exchequer on the reduction of the marginal rate of tax relief to 20% for employee and individual contributions to pension schemes or plans is a saving in the order of €410 million.

In relation to the second question, I am advised by the Revenue Commissioners that the estimated total annual saving to the Exchequer of reducing tax relief on pension contributions to the standard rate would be in the order of €500 million. This estimate includes €90 million in respect of  Public Service Pension Related Deductions.

The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The threshold was initially set at €5 million, which was subsequently reduced to €2.3 million and further reduced in the 2013 Finance Act to €2 million.

I am advised by the Revenue Commissioners that information on the numbers and values of individual pension funds or on individual accrued benefits are not generally required to be supplied to them by the administrators of pension schemes and personal pension arrangements. There is, therefore, no underlying data readily available to the Revenue Commissioners on which to base reliable estimates of the savings that would arise specifically from a reduction to the SFT from €2 million to €622,500 as requested by the Deputy.

Regarding the cap on the annual earnings limit for determining maximum allowable pension contributions for pension purposes, based on the latest information available, reducing the €115,000 ceiling to €75,000 per annum is tentatively estimated to yield in the region of €100 million.

As there is no general requirement for data on the number of persons who are receiving payments of retirement lump sums of less than €200,000 (the current life-time limit on tax-free retirement lump sums) to be returned to the Revenue Commissioners, I am advised that they are not in a position to provide definitive figures demonstrating estimated savings to the Exchequer on the impact of reducing the tax-free retirement lump sum amount to €122,500.

In relation to the final question, I am advised by the Revenue Commissioners that the estimated yield if the discretionary non-pension deductions and reliefs, which are currently allowable for tax at an individual's marginal rate of income tax, were confined to the standard rate would be in the order of €480 million.

These estimates, for all Questions, are based on data for 2012, the latest year for which returns have been filed and fully processed.

The Deputy might note that these various estimates take no account of the behavioural impact which the suggested changes would be bound to have either individually or collectively.