John Brady (Wicklow, Sinn Fein) | Oireachtas source

I would like to thank the officials from the Department for attending the committee this morning. In many respects, pensions constitute an important and complex issue. It has been described as a ticking time-bomb. In his opening statement, Mr. Duggan alluded to the three major factors driving some of the difficulties: greater longevity, increased PSRI coverage and the increase in pension rates that are paid.

I wish to focus on a few specific areas including the increasing pension age and longevity. We know that the pension age increase from 65 to 66 has created difficulties, but further increases are expected - rising to 67 in 2021 and 68 in 2028. We are going faster and further than any of our European counterparts in this regard, but the Irish Congress of Trade Unions has said we should look at halting that process. I would certainly agree with the ICTU on that.

Has the question of slowing down that process been costed? Perhaps the officials could answer that question. If the extension to age 67 were to be pushed out by an additional five years, what costs would that incur? Can we examine the possibility of moving more into line with our European counterparts, instead of pushing way ahead of them, because the impact on people will be immense?

Last week, I launched a Bill to abolish the mandatory retirement age. That had been attempted previously by the former Deputy Anne Ferris, but the measure fell with the dissolution of the Thirty-first Dáil. I have reintroduced that Bill and I look forward to debating it.

What are the officials' views on the mandatory retirement age and the kinds of impacts its abolition may have on overall pensions? What are their views on giving people the option, if they so wish and are able to do so, to work a little longer, rather than the current position whereby their contracts may stipulate that they must retire at 65? I ask the witnesses to address this first. There are a few other points I wish-----