Dáil Éireann Debate, Tuesday - 17 October 2023
349. Deputy Neasa Hourigan asked the Minister for Social Protection if she plans to publish the report on the benchmarked/indexed rate of State pension payments which was introduced as an input to the Budget process this year; and if she will make a statement on the matter. [44699/23]
View answerLast September I announced a series of reforms to the State Pension system in response to the recommendations from the Commission on Pensions. As part of this, the Government committed that a smoothed earnings method to calculating a benchmarked/indexed rate of State Pension payments will be introduced as an input to the annual budget process and be submitted to Government each year.
My Department completed the benchmarking calculation and submitted this to Government as an input to the Budget 2024 process. This input was considered as part of the overall Budgetary discussions in the context of wider economic and environmental factors, Budget expenditure pressures across Departments, and taking into account once-off cost of living supports.
