Willie Penrose (Westmeath, Labour)

Will contributions fall short of the benefits paid out from 2012? Will the cumulative surplus disappear? A significant input from general taxation will be required to cover the outflow arising from commitments on pensions, with which we all agree. The commitment made by the Minister's party will lead to an immediate shortfall of €635 million. In order to maintain the surplus general taxation must be used. What is the position? Will contributions fall as a result of proposed changes?

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