Oireachtas Joint and Select Committees
Wednesday, 16 October 2024
Select Committee on Social Protection
Estimates for Public Services 2024
Vote 37 - Social Protection (Supplementary)
9:30 am
Éamon Ó Cuív (Galway West, Fianna Fail)
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The Department has a contingency fund effectively if the demographics go wrong or if unemployment increases and as pension numbers increase. The Department is on the right side of this. How does that €7 billion surplus, or reserve fund, compare to the last set of forecasts which were better than the previous set? Did the Department expect to have €7 billion at the end of this year, having been so generous? By the forecast saying the Department would have €3 billion or €4 billion in the accumulative fund? This has been fascinating me for a long time.