Kevin Humphreys (Labour) | Oireachtas source

While Deputies were voting in the Dáil, we were talking about the actual cost of pensions, which is €7 billion at the moment and will increase by approximately €1 billion every five years. The Department is in the process of getting an actuary to look at those figures more exactly for a better projection. Mr. Duggan was saying we will have those figures by the middle of next year.

Mr. Duggan covered briefly the class S stamp for the self-employed that was changed in 1988 for the benefit of contributory pension. For most people who have paid PRSI, there is also an employer's contribution. Does Mr. Duggan have any figures on the amount paid out in relation to the self-employed on the class S stamp in comparison with draw-down? It strikes me that there is a huge benefit. A class S stamp is a great investment for the return one is going to get in relation to contributory old-age pension and we have now seen an expansion in this budget of the actual services people will receive on foot of it. Does Mr. Duggan have the figures or access to them on what the benefit of the class S stamp is compared to the amount of money paid in for it? As an ordinary PAYE worker, the package is about 14% whereas a class S stamp is 4%. Does the Department have any figures in relation to that?