Oireachtas Joint and Select Committees

Thursday, 4 May 2017

Joint Oireachtas Committee on Social Protection

Pension Provision: Age Action

10:00 am

Mr. Justin Moran:

There are a couple of issues that were repeatedly raised, but rather than take them thematically and to ensure I respond to all of the questions, I will go through them as they were raised. On Deputy O'Dea's point regarding the calculation, I accept that it is a blunt instrument that does not take into account some of the inflationary pressures he mentioned. However, it is important to highlight the impact on older people. There are people who say they were insulated, so it is important we challenge that.

In regard to reversing the change introduced in 2012, the latest figures we were given from the Department of Social Protection is that, since its introduction, approximately €10 million per annum has been saved, and if it was to be reversed, the cumulative cost would be €60 million.

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