Oireachtas Joint and Select Committees
Thursday, 15 December 2016
Joint Oireachtas Committee on Social Protection
Overview of Pensions: Discussion
10:00 am
Kevin Humphreys (Labour)
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Is there a cost-benefit analysis in regard to it? If one looks at the higher sector workers, there are preferential tax returns for that. In many ways, it is an additional subsidy for a higher earner whereas somebody on a low or minimum wage does not have the opportunity to get that subsidy towards the contributory pension. It would be interesting to see the true cost in relation to that. It would be helpful if the Department could provide it because that kind of detailed information would feed into what we are looking at in terms of pensions.
On automatic enrolment into pensions to which the UK has moved, has the Department had an opportunity to look at how successful it has been in different income categories? Is there a high opt-out rate among those on low incomes?