Dáil Éireann debate -
Tuesday, 11 Apr 2000

Vol. 517 No. 6

Written Answers. - Social Insurance.

Dick Spring

Question:

92 Mr. Spring asked the Minister for Social, Community and Family Affairs the role, if any, he has in the management of the social insurance reserve fund; and the plans, if any, he will bring to Government and before Dáil Éireann regarding benefits from this fund. [10541/00]

Minister for Social, Community and Family Affairs (Mr. D. Ahern):

The introduction of legislation dealing with the establishment of the social welfare reserve fund, the public service reserve fund and related issues such as the management of the funds and the procedure for drawing down moneys from the funds, are matters for my colleague, the Minister for Finance.

I strongly support the proposal to pre-fund for future pension liabilities and my Department is represented on the technical working group examining the issues relating to the introduction of the necessary legislation.

The establishment of an explicit mechanism to fund, at least partially, the prospective substantial growth that is expected to occur in social welfare old age pensions in the first half of this century as a result of changes in the age profile of the population, was recommended by the pensions board in their report on the national pensions policy initiative, published in May 1998.