Vol. 546 No. 3
119 Dr. O'Hanlon asked the Minister for Agriculture, Food and Rural Development if he will index link payments under the early retirement scheme in view of the substantial increases in social welfare pensions; and if he will make a statement on the matter. [31404/01]
The rate of pension payable under the 1994 early retirement scheme is the maximum provided for in the EU Council regulation under which the scheme was introduced. The regulation does not provide for indexation of payments.
The rate of pension payable under the scheme that commenced on 27 November 2000 is set down in the CAP Rural Development Plan 2000-2006. In its proposals for the new scheme, my Department had sought provision for annual increases in the rate of pension. The European Commission rejected this specific proposal but set a fixed rate corresponding to the mid point index between 2000 and 2006.
