Naoise Ó Muirí (Dublin Bay North, Fine Gael)
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764. To ask the Minister for Finance if he will consider discontinuing the pension-annuity levy applied to Aer Lingus pensioners; if he will explore options to reimburse those affected for deductions made from their pension annuities; and if he will make a statement on the matter. [43931/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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An annual levy was charged on pension schemes from 2011 to 2015 in accordance with section 125B Stamp Duties Consolidation Act 1999. The levy was introduced during the wake of the financial crash. 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. This levy was not specific to Aer Lingus but was rather a levy that applied to pension schemes generally.

Liability for the levy rested with trustees of pension schemes and others responsible for the management of pension fund assets. Under the legislation, the payment of the levy was treated as a necessary expense of a pension scheme and it was a matter for the trustees or insurers to decide when and how the levy should be passed on to scheme members and to what extent, given the particular circumstances of the pension schemes for which they were responsible.

I have no detailed information on the decisions made by any pension fund trustees or others in relation to the passing on of the full or a partial impact of the levy to the current, deferred or former (retired) members of pension schemes. Therefore, I am not in a position, nor is it within my remit, to comment on the specifics relating to the application of the pension levy to Aer Lingus pensions.

I am aware, however, that where trustees have made the decision to pass on the impact or part of the impact of the levy to pensioners that a smaller reduction in pension payments over the lifetime of the pension may have been made in many cases in preference to a larger reduction over a shorter period.

I have no plans to repay the levies paid on private pension funds as suggested by the Deputy. The value of the funds raised by way of the levy have been used to protect and create jobs and this has helped to create the improving financial and economic position of the State during a time that the economy was in serious difficulties.