Written answers

Tuesday, 7 December 2021

Department of Employment Affairs and Social Protection

Social Insurance

Photo of Brendan GriffinBrendan Griffin (Kerry, Fine Gael)
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372. To ask the Minister for Employment Affairs and Social Protection her views on a matter (details supplied) regarding PRSI on occupational pensions; and if she will make a statement on the matter. [60264/21]

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael)
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The Pensions Commission was established, inter alia, to develop options for Government to consider in addressing the sustainability of the State pension system and the social insurance fund. The Commission has completed this work and its report was published on the 7th October 2021. The Commission’s Report has unambiguously established that the current State Pension system is not sustainable into the future and that change is needed. It is a very comprehensive and detailed report that takes account of responses to a very extensive consultation process. The report sets out a wide range of recommendations, including measures to increase Social Insurance Fund (SIF) income.

In the interests both of older people and of future generations of older people, the Government intends to consider the comprehensive and far reaching recommendations in the Commission’s Report very carefully. The report has been referred to the Joint Oireachtas Committee on Social Protection and the Commission for Taxation and Welfare for their views. I will also work with my officials over the coming months to examine each of the recommendations carefully and will consult with colleagues in Government through the Cabinet Committee system. I intend to bring a recommended response and implementation plan to Government by the end of March 2022. I think it is important that we complete that work before reaching conclusions.

The State Pension is the bedrock of the pension system in Ireland. It is extremely effective at ensuring that our pensioners do not experience poverty. This Government is committed to ensuring that this remains the case for current pensioners, those nearing State Pension age and today’s young workers including those who are only starting their careers.

I trust this clarifies the matter for the Deputy.

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