Oireachtas Joint and Select Committees

Wednesday, 17 May 2017

Committee on Budgetary Oversight

Pre-Budget Submission: Age Action Ireland

2:00 pm

Photo of Tommy BroughanTommy Broughan (Dublin Bay North, Independent) | Oireachtas source

The witnesses discussed the Social Insurance Fund with Deputy Boyd Barrett in regard to additional funding and so on. The Social Insurance Fund is in surplus once again and provides a huge chunk of social protection spending every year. Was an increase in employers' PRSI important? There was a stage during the recession when there was a deficit in the Social Insurance Fund and we want to avoid a repeat of that. We should be considering additional support we can give to older citizens in particular. Do the witnesses perceive the Social Insurance Fund as being of particular importance? How can the State encourage workers to take out supplementary pensions? It would be helpful to this committee if more citizens were to have supplementary income streams along with the State pension.

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