Marc Ó Cathasaigh (Waterford, Green Party) | Oireachtas source

I was planning on being 25 forever, so I have no intention of thinking about my pension. I am not sure whether that merited being said a second time. Both our guests have very important jobs in terms trying to communicate complex ideas in a simple way, often on topics about which people do not wish to think. People do not necessarily wish to think about their pensions. In the case of the CIB, there is so much information that is difficult for a layperson to interact with. It is very often the case that those who go to the CIB do so because they are in a difficult situation. The roles of both our guests are incredibly important in that regard.

To build on the remarks of Deputy Kerrane regarding PRSI contributions, not just as they relate to pensions but also ongoing PRSI entitlements, I have an imperfect understanding of PRSI entitlements based on the various stamps. A way of simplifying that and communicating it to the public would be worthwhile. Many people believe it is just a tax that disappears because they do not necessarily understand the social insurance aspect and their rights and entitlements in that regard. That is the case in respect of ongoing entitlements and pensions.

My next question is specifically for Ms Burke. We know the pandemic affected incomes in two ways. Some people ended up significantly worse off as a result of the pandemic but a large cohort ended up significantly better off because their work continued and their outgoings lessened. In the context of what has been described in some quarters as a savings war, should people be encouraged to put some of those savings aside? I have a nagging concern that there may be a temptation to just unleash those savings on the economy for some sort of economic bounce through a significant jump in consumption when there may be an opportunity to take a longer-term view in the context of those savings.