Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

We have just had the biggest report ever on pensions, which is the Pensions Commission report. I believe we have responded comprehensively to that in terms of retaining the pension age at 66, introducing the new flexibility to allow people to defer their pension, providing a pension to long-term carers and the small incremental increases in PRSI over the next five years, which will make the system more sustainable. We always said that, in keeping it at 66, because of the changing demographic, we would have to pay for that.

What we are trying to do is make the pension system more sustainable so the young people of today can get a pension when they retire. The system at the moment is pay-as-you-go and we pay for those who are pensioners now. That is the system that is there and it will continue. We have the benefit payment for 65-year-olds, and that is not means tested and someone can get it if they have their contributions.