Seanad debates

Wednesday, 2 December 2015

Social Welfare and Pensions Bill 2015: Committee Stage

 

10:30 am

Photo of Terry BrennanTerry Brennan (Fine Gael) | Oireachtas source

I joined a semi-State company at 20 and it was compulsory to pay approximately 6.9% or 7% of my wages towards my pension. All of my colleagues were in the same position and the company paid a corresponding amount towards our pensions. My wife wondered whether we had to pay this phenomenal figure and when it comes to being paid my pension, I hope my colleagues and I will be rewarded. Should this be compulsory for a young man or woman or their company, whether that be private or in the semi-State sector? Could we make it compulsory for people to pay 5% or 6% towards their pension? Young men and women do not think of pensions at 22 or 22 years of age but should we consider this?

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