Duncan Smith (Dublin Fingal, Labour)
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277. To ask the Minister for Finance if a company is liable for the pensions levy when paying a pension out of its own company funds. [54815/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I assume the pensions levy the Deputy is referring to is the levy which was charged on pension schemes from 2011 to 2015 in accordance with section 125B of the Stamp Duties Consolidation Act 1999. 

The levy was introduced in the wake of the financial crash, at a time when the economy was in very serious difficulties.  It was charged on the market value of assets in pension schemes held on 30 June in each year at a rate of 0.6% (2011 to 2013), 0.75% (2014) and 0.15% (2015) and was discontinued from 2016.

When the levy was charged, liability for paying it rested with the trustees of pension schemes and others responsible for the management of pension fund assets.  In this regard, it should be noted that there was never an obligation on companies to pay the levy when paying into a pension scheme.