Oireachtas Joint and Select Committees

Thursday, 11 October 2018

Joint Oireachtas Committee on Social Protection

Automatic Enrolment Retirement Savings System: Discussion

10:00 am

Mr. Tim Duggan:

We will take on board the Senator's point about making it easier to make voluntary contributions in order to gain entitlement to a contributory State pension. We will consider the issue and see what can be done. There are rules set out in legislation in regard to means assessment for a non-contributory pension. There is no current intention to change those rules, which means that reckonable incomes will be assessed in that regard. The introduction of a new pension system or a person saving into a pension system do not impact on those rules as things stand. However, that will, of course, be considered as the process is progressed. Each aspect and its implications will be considered. In light of the income levels in question and the savings that would accrue, it is not obvious that it would have a massive material impact. However, we will consider it.

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