Dáil debates

Thursday, 7 December 2023

Ceisteanna Eile - Other Questions

Pension Provisions

11:20 am

Photo of Joe O'BrienJoe O'Brien (Dublin Fingal, Green Party) | Oireachtas source

I will take Deputy Ó Cuív's query on board. I am not sure it is doable. From queries I have received, for some people aged 66 who are working and have got the contributory pension, it is a disincentive because they are paying more tax, whereas this measure will help them. It is not quite what the Deputy mentioned but it is related.

On Deputy Durkan's point, there will be a ten-year phase of full transition to the total contributions approach, together with a phased abolition of the yearly average approach. Workers have access to a social insurance contribution statement service each year to enable them to understand their entitlements based on these contributions. Officials in the Department will explore the design of a scheme that would modify the current benefit payment for 65-year-olds to provide a benefit payment for people with a long social insurance history.

The Department of enterprise will introduce measures that allow, but do not compel, an employee to stay in employment until the State pension age.

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