Section 19 of the Social Welfare, Pensions and Civil Registration Act 2018 provides that I, as Minister, will arrange to "consult with stakeholders on examining ways in which social welfare rates are increased with the aim of ensuring adequacy for all recipients and shall do so in quarter 1 of 2019".
As the Deputy is aware, my Department met with numerous interested stakeholders to hear their views on how the adoption of a benchmark, and a system of indexation, might apply to social welfare rates. This involved bilateral meetings with certain stakeholders and roundtable meetings with a range of groups. The issue was also considered and discussed with representatives from the community and voluntary sector, ICTU and IBEC, among others, at my Department's Pre-Budget Forum in July.
My Department has considered the results of the consultation process and, in conjunction with the Department of Public Expenditure and Reform, are developing options to implement the commitment in the Roadmap for Pensions Reform to examine and develop proposals to set a formal benchmark of 34% of average earnings for the State Pension and to institute a process whereby future changes in pension rates of payment are explicitly linked to changes in consumer prices and average wages. This commitment is an important issue and I have asked my officials to progress this matter.