673. Deputy Patricia Ryan asked the Minister for Social Protection what plans the Government has to benchmark the State old-age pension, as recommended in the Commission on Pensions, in order to protect elderly citizens from falling into poverty. [44568/24]

The Roadmap for Social Inclusion contains a commitment to develop a benchmarking approach for use in adjusting the value of State pension payments.  The approach proposed by the Department, known as the smoothed earnings approach, was subsequently endorsed by the Pensions Commission.

Government subsequently decided that the Department of Social Protection would, in submitting budget options, set out a rate of pension payment calculated using the smoothed earnings benchmark approach as an input for consideration as part of overall Budget discussions, on an annual basis, starting from September 2023.

I can confirm that this calculation was again prepared and submitted to Government as part of preparations for Budget 2025 in September 2024.  In assessing Budget options, and taking account of this calculation, Government was mindful that the cost of living pressures are most acute over the winter period.  For that reason, rather than taking a simplistic approach to applying an indexed rate of increase to weekly rates of payment, the Government decided to 'front-load' supports through the provision of once-off payments, including extra payments for pensioners receiving Fuel Allowance, those in receipt of carer’s payments and those living alone.

These payments will be provided in addition, not only to the €12 increase in the weekly payment rate, but to the double week payments delivered in October and December.

This combination of once-off payments in conjunction with the €12 weekly rate increase, not only exceeds the value of a benchmarked increase but ensures that a significant proportion of this value is delivered when people need it most over the winter period.

Post Budget analysis by the ESRI that shows that the package of measures introduced under Budget 2025 will result in average gains in income for most households next year.

This package including the cost of living measures are key in ensuring the most vulnerable in our society are protected from the increased cost of living.