Pension scheme tax relief
The Minister estimated that tax relief for pension schemes, including social welfare pensions, could cost about £60 million annually, while noting the estimate was tentative. He did not have beneficiary figures but said he would see whether they could be obtained if asked in a question.
asked the Minister for Finance the estimated tax revenue lost to the State by allowing tax relief on payments to pension schemes in the last financial year for which figures are available.
Comment on this
Statistics are not recorded in such a manner as to enable the information requested by the Deputy to be given accurately.
However, very tenative estimation suggests that the total cost of tax relief allowed in respect of pension schemes —including social welfare pensions— could be of the order of some £60 million a year.
