Written Answers. - Pension Provisions.

Wednesday, 10 December 2003

Dáil Eireann Debate
Vol. 576 No. 6

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  15.  Mr. Cuffe  Information on Ciaran Cuffe  Zoom on Ciaran Cuffe   asked the Minister for Finance  Information on Charlie McCreevy  Zoom on Charlie McCreevy   the anticipated cost savings to the State through his proposals on public sector pensions; and if he will make a statement on the matter. [30071/03]

Minister for Finance (Mr. McCreevy): Information on Charlie McCreevy  Zoom on Charlie McCreevy  In 2003, public service pensions are estimated to cost some €1,500 million or, 1.4% of GNP. By mid-century, this is projected to grow to some 2.5% of GNP. The package of public service pension reforms outlined in my Budget Statement to the House on 3 December 2003 is estimated to generate annual savings of €300 million, in current terms, in about 30-40 years time with some savings being realised earlier than this.


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