The Programme for Prosperity and Fairness contains a commitment that the establishment of a social insurance fund board with representation from the social partners will be examined. This examination will begin in the near future.
One of the issues relevant to the establishment of such a board is the Government decision to part pre-fund social welfare pensions. The nature and role of a social insurance board will, therefore, need to be considered in the context of the legislative arrangements, including supervisory structures, which will be put in place in respect of the new reserve fund. My colleague, the Minister for Finance will be introducing legislative proposals for the setting up of the reserve fund in the coming months.