Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

99. To ask the Minister for Finance further to Parliamentary Questions Nos. 60 to 62 of 6 February 2025, if he will outline the relevant benefits as defined by section 770 of the Taxes Consolidation Act 1997 that constitutes a bona fide reason to transfer a pension overseas; and if he will make a statement on the matter. [8621/25]

Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

100. To ask the Minister for Finance further to Parliamentary Questions Nos. 60 to 62 of 6 February 2025, the timeframe in which a declaration signed by the individual concerned must be submitted to Revenue to transfers of pensions to other EU Member States under the Institutions for Occupational Retirement Provision Directive 2016; and if he will make a statement on the matter. [8622/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 99 and 100 together.

I am advised by Revenue that “relevant benefits” as defined in section 770 Taxes Consolidation Act 1997 (TCA) means “any pension, lump sum, gratuity or other like benefit –

(a) given or to be given on retirement or on death or in anticipation of retirement, or, in connection with past service, after retirement or death, or

(b) to be given on or in anticipation of or in connection with any change in the nature of the service of the employee in question, but does not include any benefit which is to be afforded solely by reason of the death or disability of a person resulting from an accident arising out of or in the course of his or her office or employment and for no other reason”.

As I advised the Deputy in response to Parliamentary Question No. 288 on 5 February last, the transfer of deferred benefits may be made from an occupational pension scheme or a Personal Retirement Savings Account (PRSA) to an overseas pension arrangement, once such a transfer complies with the Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003, available at www.irishstatutebook.ie/eli/2003/si/716/made/en/print. The Regulations are under the remit of the Minister for Social Protection and prescribe the conditions for transfers to pension arrangements established outside the State.

Such conditions must therefore be satisfied to ensure that a transfer to an overseas pension scheme is a bone fide transfer. When facilitating the transfer of an occupational pension scheme or PRSA to an overseas pension scheme, the trustees or PRSA provider must be satisfied that:

(a) the member or PRSA contributor has requested a transfer,

(b) the overseas arrangement provides relevant benefits as defined by section 770 Taxes Consolidation Act 1997 (TCA), and

(c) the overseas arrangement has been approved by the appropriate regulatory authority in the country concerned.

To comply with (b) and (c) above, the trustees or PRSA provider should also obtain written confirmation from the administrator of the overseas arrangement to which the transfer is to be made.

Transfers from an Irish pension scheme to a pension scheme in another EU Member State, must be to a scheme which is operated or managed by an Institution for Occupational Retirement Provision (IORP) within the meaning of the EU Pensions Directive, and must be established in a Member State of the EU which has implemented the Directive in its national law. Transfers are also permitted from an Irish pension scheme to a pension scheme in the United Kingdom which is subject to governance and regulatory requirements similar to those under the IORP Directives. The scheme administrator must be resident in an EU Member State or the UK as appropriate.

If the transfer is to a country outside the EU (other than the UK) a transfer may not be made to a country other than the one in which the member is currently employed.

I am advised by Revenue that a member of an occupational pension scheme or a PRSA contributor who directs the trustees of the scheme or the PRSA provider to make a payment to, or transfer assets to, an arrangement for the provision of retirement benefits outside the State (i.e. an overseas arrangement) under the provisions of the Occupational Pensions Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003 (S.I. No. 716 of 2003) is required, prior to any transfer to sign a declaration to the effect that the transfer:

• conforms to the requirements of the regulations and Revenue pension rules;
• is for bona fide reasons; and
• is not primarily for the purpose of circumventing pension tax legislation and Revenue rules.

Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

101. To ask the Minister for Finance further to Parliamentary Question Nos. 60 to 62 of 6 February 2025, the number of cases that have been opened by Revenue to examine the potential use of pension transfers both within the EU and other international destinations to circumvent tax either under Irish pension tax legislation or tax avoidance legislation, in tabular form; the number of cases that have been determined to be in breach of tax law; the total revenue collected as a result; and if he will make a statement on the matter. [8623/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am informed by Revenue that there is a continuous focus on compliance across pension schemes, identifying and confronting non-compliant behaviour.

I am further advised by Revenue that there is an ongoing compliance programme examining the taxation of schemes transferred overseas. Approximately 20 cases have been identified for intervention as part of this programme.In addition, Revenue's Pensions Branch has initiated a review of the area of pension transfers abroad, including examination whether such transfers were, as stated in the Declaration signed by the scheme beneficiary or PRSA contributor, in compliance with the requirements of the 2003 Regulations and Revenue pension rules, and not made primarily for the purpose of circumventing pension tax legislation and Revenue rules.

Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

102. To ask the Minister for Finance further to Parliamentary Question Nos. 60 to 62 of 6 February 2025, the number of transfers of occupational pensions to other EU jurisdictions under the Institutions for Occupational Retirement Provision II Directive to each EU Member State, in tabular form; and if he will make a statement on the matter. [8624/25]

Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

103. To ask the Minister for Finance further to Parliamentary Question Nos. 60 to 62 of 6 February 2025, the number of applications received by Revenue to transfers to a pension scheme in a country other than the UK or an EU Member State in each year since 2012; the number of approvals provided by Revenue since 2012; and if he will make a statement on the matter. [8625/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 102 and 103 together.

I am advised by Revenue that the number of declarations received by Revenue in relation to the transfer of a pension arrangement to EU Member States since 2016 is as follows:

Due to Revenue’s obligation to protect the confidentiality of taxpayer information, as provided for in Section 851A TCA, it is not possible to provide data in relation to pension transfers where there are fewer than ten taxpayers involved. Further detail is available in Revenue’s Statistical Disclosure Control Protocol, published on the Revenue website at

Revenue approval is required in advance of transfers to a pension scheme in a country other than the UK or an EU Member State.

The number of overseas transfers to countries other than to another EU Member State or to the UK each year since 2012 which have been approved by Revenue, and for which confirmation has been received of the date and amount of the subsequent transfer, are set out below:

In relation to the number of applications that were not approved, I am advised by Revenue, Deputy, that Revenue’s Pensions Branch maintains statistical information in relation to applications for transfer of pensions arrangements overseas which have been approved by Revenue and for which confirmation has been received that the applicant proceeded with the transfer as well as the date and value of the fund transferred. Statistical information in relation to applications for which approval was denied is not maintained and is therefore not available.

Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

104. To ask the Minister for Finance further to Parliamentary Question Nos. 46 to 54 of 6 February 2025, the total value of the surcharge collected each year since 2016 under anti-tax avoidance legislation; the total value of the final tax liability determined at the end of tax compliance intervention each year under anti-tax avoidance legislation; and if he will make a statement on the matter. [8626/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that, as set out in the response to Parliamentary Questions No. 46 to 54 of 6 February 2025, settlements in such cases as those referred to by the Deputy can consist of yield relating to avoidance transactions and non-avoidance transactions. Therefore, it has not been possible in the time available to finalise all of this data.

I am advised by Revenue that the relevant data will be provided to the Deputy directly by Revenue as soon as possible.