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Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Comprehensive Economic and Trade Agreement: Discussion (17 Jan 2017)

Alice-Mary Higgins: Would that be subject to compensation?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Comprehensive Economic and Trade Agreement: Discussion (17 Jan 2017)

Alice-Mary Higgins: And new standards?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: It is still 37%. It has gone from 35% to 37%.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: Some of the matters I had wished to raise have been touched on already. I wish to touch on a few other points. I will begin by picking up on some of the points Senator Humphreys raised. I will begin with the universal supplementary retirement saving scheme and then move on to the first-tier pension. The current marginal rate tax relief system will be important. While it is a matter for...

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: I apologise. The final point I will make relates to the homemaker’s credit. The current system is inadequate. Total contributions will not fully fix it because it only fixes it at pension age. I know there were discussions with the Department previously on the idea of a re-entry credit. If, for example, one were to allow contributions to be on an ongoing basis for people who were...

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: Is there consideration being given to allowing people to make another form of contribution besides class S?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: I was asking about the rules in being allowed to make a voluntary contribution. I also wanted to know about qualified adults and the independence of income because it was highlighted as a route.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: The partnerships' research is a very useful resource in having a more tailored basket.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: Does Mr. Duggan have separate figures for contributory and non-contributory pension payments?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: That would be interesting to unpack.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: It would be great to have a gender disaggregation for each of the different pension categories because that would allow us to look at the measures might be taken in each category.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: My colleague, Deputy John Brady, referred to a pension protection fund, which is another approach.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: I thank Mr. Duggan for his input on that issue.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: In regard to the large schemes, which may be public, private or a mix of the two and involve tailored products produced for the investment market, would the ethical investment concerns that may arise in terms of State investment and the constraints already in place in that regard affect what types of packages are acceptable?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: Is that under the mandate they have?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: Would something similar to the insurance scheme referred to by Deputy John Brady be considered?

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: There was a 30% fall in pension funds in 2008. I guess it is balancing out.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: It would be useful if that costing could be sent on to us. I have looked for it before with the provision going back to 1973.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: I know a check was done on 1953. It would be useful to go back to 1973. It should also look at the women, for example, who are on a reduced rate contributory pension who may be impacted by it.

Joint Oireachtas Committee on Social Protection: Overview of Pensions: Discussion (15 Dec 2016)

Alice-Mary Higgins: It might give an estimate of one likely scenario of cost. I do not believe many people will switch whereas I believe those on the reduced rate might get an increased rate. One would have to give them the entitlement to switch. It would be worth bearing this in mind as another scenario. Of course, one must consider all scenarios.

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