[FONT=Arial Black, sans-serif]THE PRIVATE SECTOR ARE PAYING FOR PENSIONS THREE TIMES OVER[/FONT][FONT=Arial Black, sans-serif]
BEFORE[/FONT][FONT=Arial Black, sans-serif] IT CAN PROVIDE FOR ITS OWN PENSIONS[/FONT]
The private sector is currently paying, through taxes and PRSI contributions, for pensions three times
before it can even begin to set aside funds for its own future pensions:
SOCIAL WELFARE PENSIONS PAID TO CURRENT PENSIONERS.
€[FONT=Arial Black, sans-serif]4[/FONT][FONT=Arial Black, sans-serif].0bn[/FONT][FONT=Arial Black, sans-serif]
i[/FONT]
PUBLIC SERVICE PENSIONS PAID CURRENTLY TO RETIRED PUBLIC SERVANTS
This is just the current cash payments to current public service pensioners. In addition there is the annual benefit accrual cost for current public service employees, estimated at €5.4bn pa.
€[FONT=Arial Black, sans-serif]2[/FONT][FONT=Arial Black, sans-serif].3bn[/FONT][FONT=Arial Black, sans-serif]
ii[/FONT]
NATIONAL PENSIONS RESERVE FUND CONTRIBUTION
The taxpayer pays 1% pa GNP to the NPRF, which is designed to fund part of future State and public service pensions from 2025 onwards. Estimate at €1.7bn in 2009
€[FONT=Arial Black, sans-serif]1.[/FONT][FONT=Arial Black, sans-serif]7bn[/FONT]
CURRENT PENSION EXPENDITURE
€[FONT=Arial Black, sans-serif]8bn[/FONT]