Willie Penrose
Question:59. Deputy Willie Penrose asked the Minister for Employment Affairs and Social Protection the timeframe for publishing an action plan on pension reform; and if she will make a statement on the matter. [39644/17]
View answerWednesday, 20 September 2017
Questions (59)
Written answers
I have previously highlighted that pensions reform will be a priority of my Department and can confirm my intention to publish and commence the implementation of a pensions reform plan before the end of this year.
Two of the most significant measures in the plan will be a road map for the reform of the State pension through the introduction of a “Total Contributions Approach” (TCA) for new pensioners, and the development of a new auto enrolment supplementary retirement savings system for employees without pensions coverage. The plan will also include measures to reform and simplify the current supplementary pension landscape and measures required to transpose the EU ‘IORP’ Pensions Directive.
The objective of these reforms will be to establish a sound and fit for purpose pension system for the coming decades, one that will shape the retirement landscape benefitting our retirees for generations to come. In developing key proposals, my Department will conduct a period of consultation with relevant stakeholders including interest groups, representative bodies and the Oireachtas.
I hope this clarifies the matter for the Deputy.