Dáil Éireann Debate, Tuesday - 22 March 2022
48. Deputy Jennifer Murnane O'Connor asked the Minister for Social Protection the status of the report of the Pensions Commission including their proposals to remove the PRSI exemption on supplementary pensions; and if she will make a statement on the matter. [14825/22]
View answerThe Pensions Commission’s Report was published on 7th October 2021. It established that the current State Pension system is not sustainable into the future and that changes are needed. The report set out a wide-range of recommendations in relation to the State Pension system and Social Insurance Fund, including potential PRSI base broadening measures.
In the interests both of older people and future generations of older people, the Government intends to consider the comprehensive and far reaching recommendations in the Pensions Commission’s Report very carefully and holistically.
The Government agreed in October 2021 that the Commission’s report and recommendations would be referred to the Joint Oireachtas Committee on Social Protection, Community and Rural Development and the Islands and also to the Commission on Taxation and Welfare for its views. The Committee published its views on the 2nd February 2022 and the Commission on Taxation and Welfare submitted its comments on the PRSI related recommendations at the end of February. All of these various views will be considered as part of our deliberations over the coming weeks.
My officials are examining each of the recommendations and consulting across Government through the Cabinet Committee system. I think it is really important that we complete that work before reaching conclusions on any one recommendation such as the Commission's recommendation to remove the exemption to pay PRSI on supplementary pension income, occupational and personal pensions and public sector pensions. In this regard, I intend bringing a holistic recommended response and implementation plan to Government in April.
As the bedrock of the pension system in Ireland, the State Pension is very effective at ensuring that our pensioners do not experience poverty. This Government is committed to ensuring that this remains the case for current pensioners, those nearing State Pension age and today’s young workers including those who are only starting their careers.
I hope this clarifies the matter for the Deputy.
