Oireachtas Joint and Select Committees

Wednesday, 15 February 2023

Joint Oireachtas Committee on Social Protection

General Scheme of the Automatic Enrolment Retirement Savings System Bill: Discussion (Resumed)

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source

I asked the Minister and we were given figures that from the year 2000 on it has been supplemented by €5 billion.

It is being supplemented by €5 billion and that, of course, covers all of the PRSI schemes we have, including the pandemic payment, which is not a pension payment, so PRSI does a lot more for people than purely their pension. It is €5 billion over 20 years. If the Exchequer had been taking the 2% and putting it aside, which is part of what this scheme does, it would have put in a lot more than €5 billion.

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