Claire Kerrane
Question:324. Deputy Claire Kerrane asked the Minister for Social Protection the status of plans for the next actuarial review of the social insurance fund. [34078/21]
View answerThursday, 24 June 2021
Questions (324)
Written answers
The Minister for Social Protection is legally required to have an Actuarial Review of the Social Insurance Fund undertaken at five yearly intervals.
The purpose of the review is to determine the extent to which the Fund may be expected, in the long term, to meet the demands in respect of payment of benefits and other payments. The review takes account of the adequacy or otherwise of contributions to support benefits and other payments as well as other matters relevant to the current and future financial condition of the Fund.
Preparation for the next Actuarial Review of the Social Insurance Fund in respect of the year ending 31 December 2020 is under way. The Actuarial Review is expected to be completed in 2022 and a copy will be laid before each House of the Oireachtas within six months of its completion in accordance with the statutory requirement to do so.
I trust this clarifies the matter for the Deputy.