Dáil Éireann Debate, Tuesday - 17 April 2018
1479. Deputy Aindrias Moynihan asked the Minister for Employment Affairs and Social Protection if the number years in addition to the number of months a person has worked will be taken into consideration under the total contribution approach to calculating entitlement to the contributory pension (details supplied); and if she will make a statement on the matter. [16688/18]
Amharc ar fhreagraThe interim Total Contributions Approach (TCA) which will apply to those affected by the change in rate bands in September 2012, and before the full TCA comes in from 2020, will see entitlements based on the pensioner’s total contributions. While the details regarding the operation of the scheme have to be finalised, and based on a total of 40 years of contributions (comprising both qualifying and credited contributions), someone with 36 years and 8 months contributions would be expected to receive a pension of approximately 91.67%, and someone with 36 years and 4 months would be expected to receive a pension of approximately 90.83%. This does not take into consideration any additional credited contributions either party may be entitled to depending on their particular circumstances. It will be possible to give details of payment rates only when the legislation has been finalised and the particular personal records have been examined.
The details of the Total Contributions Approach to determining rate of pay to those who reach state pension age from 2020 onwards will be finalised following a public consultation with relevant stakeholders over the coming months.
I hope this clarifies the matter for the Deputy.
