Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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379.To ask the Minister for Finance if he will amend the finance Acts by reviewing the standard fund threshold in order that senior Gardaí can apply for more senior roles within An Garda Síochána; and if he will make a statement on the matter.[35758/24]

Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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380.To ask the Minister for Finance if he will provide a copy of the review of the standard fund threshold by a person (details supplied); if the recommendations of the report can be made available; and if he will make a statement on the matter.[35759/24]

Jack Chambers (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 379 and 380 together.

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 and it applies to all private and public sector pension arrangements. It is provided for in Chapter 2C of Part 30 of the Taxes Consolidation Act 1997 (TCA) which sets out the maximum tax-relieved pension fund at retirement. If the relevant threshold is exceeded, the excess over the threshold (the “chargeable excess”) is subject to an upfront, ring-fenced income tax charge (known as “chargeable excess tax”) at 40%.

The Deputy raises the matter of reviewing the SFT in the context of recruitment and retention within An Garda Síochána. I would note that the terms and conditions of positions in An Garda Síochána are a matter at the first instance for the Ministers for Justice and Public Expenditure, National Development Plan Delivery and Reform and are outside the scope of my responsibilities. The SFT is part of the tax system which applies to generally for everyone; all pension products or schemes, and both the public and private sector.

In December 2023, the then Minister for Finance announced an independent examination of the SFT regime, including consideration of the impacts of the SFT on recruitment and retention in the public and private sector. This examination which was led by an independent expert has recently concluded and a report was submitted to me. I am continuing to consider the report and its recommendations. The appropriate timing for publication of the report forms part of this consideration. As the Deputy would expect, any changes to the SFT regime will be carefully considered as part of the Budgetary process.