Dáil Éireann Debate, Tuesday - 7 November 2017
1194. Deputy John Brady asked the Minister for Employment Affairs and Social Protection the work that has been done to date by her Department on the proposed total contributions approach for the State pension; and if she will make a statement on the matter. [45839/17]
Amharc ar fhreagraIt is my intention to introduce a Total Contributions Approach to the calculation of the State Pension (Contributory) from 2020 onwards and I will be bringing forward proposals in this regard in the near future.
Officials in my Department have been working on the introduction of the scheme since 2015. The recent Actuarial Review of the Social Insurance Fund has been used to explore the costs of various options and to inform the design of the Total Contributions Approach.
This Review was recently completed and published, and the costings produced are being considered, with a view to progressing to the next stage, which will include a consultation process. The final structure of the model, which will include the number of years required for a maximum rate of pension, and the treatment of credited contributions and homemaking periods, will be submitted to government. Subsequent to this, legislative proposals will be introduced to the Oireachtas.
I hope this clarifies the matter for the Deputy.
