Mary White (Fianna Fail)

No, I am not going to change. The pattern has been set. People are looking forward to the cash they will get into their back pockets. A challenge exists for the Minister to market pensions and to involve the Pensions Board in that endeavour.

When this issue appeared on our work programme last week I met with Gerard Hughes and Dorothy Watson from the ESRI in order that they could explain the background to this significant document. The way forward presents a serious challenge for the Government. At present, there are 460,000 people over the age of 65 years in Ireland. By 2036 that number is projected to be 1.2 million because based on births to date, there will be a certain trajectory growth in the numbers of those aged over 65. That puts the problem in perspective.

Reforming pensions is one of the biggest challenges of the 21st century. All OECD countries must adjust to the aging of their populations and rebalance retirement income provision to keep it adequate and ensure the system is financially stable. Every country has this problem, not just Ireland. Modern medicine——