Oireachtas Joint and Select Committees

Wednesday, 17 November 2021

Joint Oireachtas Committee on Social Protection

Report of the Commission on Pensions: Discussion (Resumed)

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

Ms Burke talked about forewarned being forearmed and that is important. I made the point last week that people of my age or a bit younger are often so busy in their lives they may not be thinking ahead to pension age. Having communication on what people's PRSI entitlements will amount to, done clearly and in a personalised way, as Ms Burke said, is key. It is also a huge factor in the idea of auto-enrolment, which we have not discussed today. As people become more aware and think in that longer term frame, auto-enrolments will become an increasingly important part of the picture.

The Chair might laugh at this, but he opened the door by talking about the changing nature of the world of work. I put this question to the ESRI last week and nobody bit, as such. We are modelling pension structures out to 2070 in this report. In the conception of the world of work that underpins this, were we looking at a business-as-usual model? With regard to childcare, for example, we know the caring economy will expand greatly as we have an older population. Will that have an impact on how we fund our pensions model? We can also look at areas around artificial intelligence and digitalisation. It is outside Ms Burke's terms of reference but is it in the terms of reference of the Commission on Taxation and Welfare. There are also climate impacts. Are we factoring this in? If we are planning the fiscal future of the State out to 2070, are we actively taking account in our modelling of those long-term disruptive forces or presuming a business-as-usual model?

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