Dáil Éireann Debate, Tuesday - 22 March 2016
28. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection if she will provide data showing the percentage of persons working in construction who are members of an occupational pension scheme; the initiatives in place to increase pension coverage in the sector; and if she will make a statement on the matter. [5086/16]
Amharc ar fhreagraThe Department of Social Protection does not maintain specific data showing the percentage of persons employed in construction who are members of an occupational pension scheme.
However, I can confirm that according to a Central Statistics Office Quarterly National Household Survey (QNHS) on pension provision published on 21 April 2011, the rate of persons in construction related employment with either an occupational pension, a personal pension or both and aged 20-69 was 44% in the final quarter of 2009.
Two large pan-industry schemes, the Construction Workers' Pension Scheme (CWPS) and the Construction Executive Retirement Savings (CERS), currently have in the region of 20,000 active members. However, it is important to note that company employees, contractors and the self-employed who identify themselves as working in the construction sector may avail of a range of vehicles for retirement provision such as occupational pension schemes including small self-administered pension schemes or personal pensions such as PRSAs or Retirement Annuity Contracts and membership numbers would not be included in these CWPS figures.
In January 2015 a cross departmental Universal Retirement Savings Group was established to develop a roadmap and timeline for the introduction of a new, universal, supplementary workplace retirement saving scheme. Such an employment based defined contribution scheme would increase coverage across all employment sectors including construction and will have particular focus on lower-paid workers.
