Mr. Tim Duggan:

There is a timescale. You can undo the provisions that are proposed. A person may be able to defer up to the age of 70 so he or she can draw down his or her pension at any age between 66 and 70. When he or she draws it will determine the enhanced rate of payment he or she gets. Each enhanced rate is calculated on an annual basis so there is a rate for 67, a rate for 68, a rate for 69 and a rate for 70.

I assure the Cathaoirleach that the Department is planning a major communications campaign. Ordinarily when we put these together, we also include pen pictures to give people as close to real-life examples as we can of how the calculation works and what the impacts will be. The Cathaoirleach will note that we are not introducing the TCA changes from 1 January 2024. We have pushed that out to 1 January 2025 to facilitate those communications and better understanding of how that will work. Hopefully, we will do a good job of it but we certainly intend to.