62. Deputy Gerald Nash asked the Minister for Finance if he will bring forward his decision announced in his recent budget speech in respect of the maximum allowable pension fund, to a point in 2013 as opposed to 2014; and if he will make a statement on the matter. (Question 57414/12 asked on 20 Dec 2012 - Pension Provisions)

Minister for Finance (Deputy Michael Noonan): In Budget 2013, I announced that changes to the maximum allowable pension fund at retirement for tax purposes (the Standard Fund Threshold - SFT) and other possible changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. The existing SFT regime is designed to cater for relatively small numbers of individual...