Dáil Éireann Debate, Wednesday - 26 July 2017
1555. Deputy Brendan Smith asked the Minister for Social Protection when the independent actuarial review of the Social Insurance Fund will commence; the likely timeframe for a public consultation; and if she will make a statement on the matter. [36274/17]
Amharc ar fhreagraThe Actuarial Review of Social Insurance Fund (SIF) is currently being finalised by independent consultants. The Review generally will project the income and expenditure of the Fund over a 55 year period, taking into account policy, economic and demographic changes since the previous review was undertaken. The Review is also examining a range of policy options relating to pensions and extending social insurance cover for the self-employed. The completed review will be published in the third quarter of 2017.
The findings of the Review will play an important role in informing the overall debate on policy developments in relation to the Social Insurance Fund in the years ahead including the financial sustainability of the Fund given the expected demographic challenges and consideration of extending the scope of benefits for workers generally, including the self-employed.
I am giving consideration to commencing a public consultation on the levels and types of other benefits which individuals would reasonably expect in the future, how such payments should be funded and by whom as well the appropriateness of the current benefit structure. It is my intention to consult with my colleagues in this regard and to bring a Memo for the Information of the Government on the findings of the actuarial review and the plans for a public consultation in relation to SIF benefits.
