Oireachtas Joint and Select Committees
Wednesday, 12 February 2014
Joint Oireachtas Committee on Education and Social Protection
Implications for Employees of Changes to Pension Age: Discussion
2:40 pm
Dr. Orlaigh Quinn:
All of our benefits are paid on the basis of the previous tax year because that is the way in which we calculate PRSI - it is a full year. It is difficult to have this discussion without looking at the broader pensions reforms, but one of the areas at which we are looking is total contributions. That is where one would count what a person has paid rather than looking at an average or the way a scheme is worked. It is something on which we are working and at which the Minister has looked. Pretty much like a private sector pension scheme, for every year one pays into the social welfare system, one would get a payment with suitable time periods for credits for women who have caring roles. It would address some of those issues the Senator raised earlier about homemakers.
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