Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The reason for this complexity is simple, but the consequences of it are hugely complicated and multilayered. Broadly, three different pension schemes are in operation for those who joined the public service up to 1995, those who joined between 1995 and the end of 2012 and those who have joined since the start of 2013. The number of people retiring from the public service hit a particular peak across the crisis period. They retired under a certain set of conditions because they correctly expected that if they stayed on longer into the period of difficulty we experienced, they would leave with lower levels of pension benefits. It was decided to incentivise retirement as part of the efforts that were under way to deal with the immense difficulties at that time. The simple answer I can give to the Deputy's questions on this matter is that we will look at how we can address it better.

The legislation that is currently in place means that by the time we get to next year, the public service pension reduction will be broadly eliminated in the case of someone who has a pension with a value of less than approximately €34,000. By the end of the agreement we have negotiated with representatives of employees in our civil and public service, the public service pension reduction will be eliminated in the case of someone who has a pension with an approximate value of €50,000. I do not have the Bill in front of me now. I looked at it last night. Perhaps the figure is closer to €53,000 or €54,000. I will come back to the committee with all of that information. By the time we reach that point in 2020, the vast majority of people who are in receipt of a pension will have their public service pension reduction completely eliminated. We have already had a great deal of contact with the pensioners' representative organisations. We have given them information to explain our plans. Maybe we will share that information again after this morning's meeting. Perhaps I will make a simple table explaining what is actually happening available to all Members of the Oireachtas, starting with the members of this committee, before Christmas.