Brendan Howlin (Wexford, Labour)

Deputy Flanagan raised a point that is not pertinent to this particular section. We discussed this issue in some detail on Committee Stage. I am not sure what point the Deputy feels was not clarified. I have previously made clear that I value uniformed personnel, in particular, members of the Garda Síochána and prison officers. That is the reason they have unique preserved pensions which they receive at an age earlier than that at which anyone else receives theirs. While the pension age for everyone else is being pushed out, we are not changing the pension age of those categories, which is extraordinarily advantageous in recognition of the important work they do. They have fast accrual of pension, retire early and receive their pensions immediately on retirement although I accept they make a larger contribution. That is the case in respect of everyone who has a fast accrual pension be it a judge, a Member of the Houses of the Oireachtas or a member of a uniformed body. Anyone in receipt of fast track accrual is, in fairness, required to make a larger contribution. However, if one looks at the value of the pension they receive, actuarially as we live longer, some people will be retiring at 50 and others at 55 years while receiving a pension for 30 or 40 years beyond that. Actuarially, it is an extraordinarily generous provision for the State to make, although one I think appropriate.

On Deputy Donnelly's point in regard to the upward only link to CPI, the objective in this regard is maintenance of the value of a pension in so far as is reasonable and proper. It is not my intention to bring this provision into effect in the foreseeable future. However, the generality of pensions of those people who qualify under this single pension scheme in 40 years time will track the CPI. If in 40 years time - I do not think this will be a cause of concern for any of us although please God we will all be here - a series of events results in a deflation for successive years of the scale spoken of by Deputy Donnelly, then obviously amending legislation will be introduced at that stage to deal with it. It is highly unlikely that this legislation will remain unamended for the next half century. People will have regard to changed circumstances then.

I can reassure those people who will be recruited into the public service into the future that their pension and purchasing power should, by and large, be preserved by this provision.

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