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Public Sector Pensions

Dáil Éireann Debate, Wednesday - 26 October 2022

Wednesday, 26 October 2022

Ceisteanna (72)

James O'Connor

Ceist:

72. Deputy James O'Connor asked the Minister for Public Expenditure and Reform if he will address the matters raised in correspondence by a person (details supplied); and if he will make a statement on the matter. [53661/22]

Amharc ar fhreagra

Freagraí scríofa

As the Deputy will be aware, while I have overall policy responsibility in relation to public service pension schemes, questions about the pension schemes of any particular public service body should be referred to the Minister of the parent Department for the body concerned, in this case the Minister for Housing.

However to address the general point raised, it is a fundamental feature of occupational pension schemes and of the regulatory framework within which they operate that pension entitlements are, in general, accrued in respect of periods of paid employment and having regard to the pensionable remuneration in payment. The State Pension (contributory), on the other hand, has regard to each person’s social insurance record, which may include periods in insurable employment, voluntary contributions and credited contributions.

Any attempt to insert home credits into public service occupational pension schemes would run counter to fundamental principles underpinning those schemes and would represent a very substantial cost to the State.

I would also point out that members of most pre-2013 public service pension schemes, including those of local authorities, will have the option to purchase notional pensionable service at full cost to themselves and subject to the normal purchase scheme limits, including compliance with Revenue limits in relation to the obtaining of tax relief on their purchase contributions, and so may compensate in this way for taking time out of work for home caring.

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