The COVID-19 Pandemic Unemployment Payment is an emergency payment introduced by the Government for an initial 12 week period for employees and self-employed people who have lost all their employment due to the COVID-19 public health emergency.
The 2020 Revised Estimates, passed by the Dáil on 28 May 2020, provides for an allocation of €2.23 billion for the Pandemic Unemployment Payment based on the scheme operating for a 12 week period. This was part of an overall increase in Departmental funding of €6.8 billion, above that provided for in the original estimate, in response to the COVID-19 public health emergency.
The Deputy will also be aware that I have announced my intention to extend the availability of the Pandemic Unemployment Payment from 9th June to 10th August, with adjustments in the rate of payment for those previously earning less than €200 per week. Given the decision to extend the duration of the Pandemic Unemployment Payment, the issue of savings does not arise.