National pension plan progress
Cullen asks about progress on a national pension plan. Woods says immediate priorities are pension cover for the self-employed and regulation of occupational schemes, with further decisions to follow the Pensions Board’s report.
asked the Minister for Social Welfare the progress which has been made to introduce a national pension plan.
Comment on this
Action on the development of the pensions system in the immediate future will concentrate on the extension of social insurance pensions cover to the self-employed and the establishment of a system of monitoring and regulating the operation of occupational pension schemes as recommended in the first report of the National Pensions Board. I intend to submit proposals to Government shortly for legislation in both these areas.
Further developments in the pensions area will be considered in the light of the final report of the National Pensions Board. In that report the board will be considering how the present pensions system comprising statutory flat rate social insurance pensions for all employees, except public servants, and occupational pensions, for which roughly 47 per cent of the employed labour force are covered, should be further developed. I expect to receive this report from the National Pensions Board by mid-1988.