Claire Kerrane (Roscommon-Galway, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

323. To ask the Minister for Employment Affairs and Social Protection if she plans to legislate to provide for annual increases in the State pension to be benchmarked at 34% of earnings; and if she will make a statement on the matter. [34077/21]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As the Deputy is aware, the Pensions Commission was established in November 2020 to examine sustainability and eligibility issues with the State Pension and the Social Insurance Fund, in fulfilment of a Programme for Government commitment. These issues will be considered from a perspective of fiscal and social sustainability, and intergenerational fairness. Details on the Commission's work, including agendas, minutes and presentations made to the Commission, are available on its website, PensionsCommission.gov.ie.

The terms of reference proposed the Commission "Review previous analyses of the State Pension arrangements and recommendations for changes including those set out in the National Pensions Framework 2010, the OECD Review of Pensions in Ireland 2013 and the Roadmap for Pensions Reform 2018-2023.

The 34% benchmark figure mentioned by the Deputy was included in the said Roadmap for Pensions Reform and analysis of same is to be included in the Commission's report.

The Commission is due to provide its report to Government in the near future. The Government has committed to take action on its recommendations within 6 months of receiving them.

I hope this clarifies the matter for the Deputy.