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

This is very interesting. Could Mr. Duggan confirm whether I am correct in saying that in respect of the enhanced pension you get by deferring, you will be allowed to get to 66 and then you defer to 70 and continue working but there is nothing to stop you drawing it and continuing to work. That is the first thing we must stress. There is no connection between entitlement to the pension and whether or not you continue to work.

According to my calculation of the figures were given, if you had the full State pension, you would be playing a lotto game as to whether you would live longer than 83. The crossover point was about 83 whereby you would have recouped what you lost in the years during which you did not draw down your pension by the enhancement. This is not great value for men. Women tend to live longer than men. If somebody in that situation came to me, I would tell them that I would worry about 83 when I got to 83 and take the money now because I would be better off right up to 83. Therefore, this is really for people who do not have full contributions, who want to have full contributions or enhance their pension by working longer. This, of course, is the challenge of the 40-year rule we have. Could Mr. Duggan confirm whether I am correct?