Dáil Éireann Debate, Tuesday - 1 May 2018
441. Deputy Willie O'Dea asked the Minister for Employment Affairs and Social Protection the progress she has made to set a formal benchmark target of 34% of average earnings for State pension (contributory) payments and institute a process whereby future changes in pension rates of payment are explicitly linked to changes in the consumer price index and average wages; and if she will make a statement on the matter. [19122/18]
Amharc ar fhreagraThe level of income provided to pensioners in the form of the State pension is currently decided through the annual budget process. The Roadmap for Pensions Reform commits the Government to examine and develop proposals this year. In order to protect the adequacy into the future the Government intends to examine and develop proposals to set a formal benchmark target of 34% of average earnings for the State pension (contributory), and institute a process whereby future changes in pension rates of payment are explicitly linked to changes in the consumer price index.
Preliminary work has commenced to support the development of these proposals. It is intended that a detailed proposal on this matter will be developed before the end of this year for consideration by the Government.
I hope this clarifies the matter for the Deputy.
