Oireachtas Joint and Select Committees

Wednesday, 24 November 2021

Joint Oireachtas Committee on Social Protection

Report of the Commission on Pensions: Discussion (Resumed)

Photo of Denis NaughtenDenis Naughten (Roscommon-Galway, Independent) | Oireachtas source

All members agree we need to develop those soft measures, regardless of the current debate, but the concern from the Pensions Commission and some of the evidence we have heard from economists is that if the statutory retirement age is not increased, those soft options will not have the impact on the numbers of people remaining in full-time or part-time employment. I do not have the answer to this. Mr. Taft may not have it either. Is there evidence from elsewhere that these soft options may not meet the 0.7% but would come close to it? It is not a black or white situation. Is there evidence that increasing the age threshold for the pension would bring in 0.7% of GNI*, but if all the soft options are coupled together, that could bring in a proportion of that 0.7% of GNI*? Does that evidence exist?

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