Seanad debates

Tuesday, 3 December 2013

Social Welfare and Pensions (No. 2) Bill 2013: Report and Final Stages

 

4:45 pm

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

That is a level of incompetence. According to the one I downloaded from the Department of Health website last night, life expectancy in 1960 was 69.69. Happily, today is 80.50. That information is available as a public document. The actuaries do not even have to do anything. They can just Google the Central Statistics Office and get the information. I do not understand how people could say they got into trouble because they did not anticipate the increase in longevity. Senator Crown gave the example of Bismarck, on introducing the pension, saying he hoped to save a good deal of money because not many people would make it to age 65. Why is our pension industry-----

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