Dáil Éireann debate -
Tuesday, 26 Feb 2002

Vol. 549 No. 3

Written Answers. - Social Insurance Fund.

Donal Carey

Question:

45 Mr. D. Carey asked the Minister for Social, Community and Family Affairs the progress which has been made in establishing the proposed board of the social insurance fund; the discussions which have taken place with the social partners; and if he will make a statement on the matter. [6311/02]

Liz McManus

Question:

84 Ms McManus asked the Minister for Social, Community and Family Affairs the progress to date on the establishment and operation of the social insurance fund board; and if he will make a statement on the matter. [6608/02]

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

I propose taking Questions Nos. 45 and 84 together.

The Programme For Prosperity and Fairness contains a commitment that the establishment of a social insurance board with representation from the social partners will be examined over the lifetime of the programme.

As the Deputies will be aware, the social insurance fund is in a healthy financial situation at the moment. The surpluses which have emerged since 1997 onwards require careful management in order to ensure that they are used to best advantage having regard to emerging demands and the overall interest of its contributors.

In this regard, my Department has engaged external consultants to conduct an actuarial review of the social insurance fund for the period 2001 to 2056. This work is well advanced and I expect to receive the final report from this review shortly.

This review will build on the findings of the 1997 review in relation to social insurance based pensions as well as dealing, for the first time, with short-term benefits. The outcome of the review will inform short to medium and long-term policy development in relation to the social insurance system generally and the emerging surpluses of recent years. It will also directly feed into the examination of possible roles of a social insurance board and the social partners will be fully consulted as part of this process.