Oireachtas Joint and Select Committees
Thursday, 3 April 2014
Public Accounts Committee
2012 Annual Report of the Comptroller General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure and Reform
Vote 12 - Superannuation and Retired Allowances
Chapter 3 - Financial Commitments under Public Private Partnerships
Chapter 4 - Vote Accounting
Chapter 5 - Vote Budget Management
12:50 pm
Mr. Robert Watt:
I do not know what it will peak at but certainly we will have increases every year in the number of people retiring. If we have 140,000, we will have 2,000 to 2,500 people retiring. Of course, pensioners will die or whatever, so there is a net increase. In effect, we will see costs go up due to the increase in the number of pensioners, The impact overall in terms of cash flow will depend on how we index link future pensioners, whether to CPI-----