Mr. Justin Moran:

Yes, based on the Department's figures it would cost €10 million. The cost of reversing and backdating for people who had been on lower pensions since 2012 would amount to €60 million.

In regard to the net cost of the restoration of the transition pension to 65 and taking jobseeker's into account, regrettably, I do not have that figure but we do intend to pursue that issue. On the auto-enrolment scheme and its potential to impact on the State pension, we are talking not about a scheme that exists but ideas and suggestions around such a scheme, including, for example, the introduction of a small, perhaps 2%, contribution from employees, employers and, possibly, some sort of State supports. It is modelled a little on the British system that has been introduced. My concern would be that if that system was brought in and, six or seven years down the road, it was decided that PRSI contributions needed to be increased to ensure the State pension was sustainable, we would be going back to the same pot again. We would be requiring the people paying into the auto-enrolment scheme for the second tier pension also to pay into the first tier pension. That could be a difficult ask of the people concerned. A mandatory second tier pension could be a very helpful and sensible approach to ensuring people have adequate income in retirement. The Minister, Deputy Varadkar, has stated time and again that he sees the first tier State pension as a priority. What we would like the Government to do in the context of considering a second tier system is to ensure that what it introduces does not immediately, or potentially, undermine the State pension, which is the most important.