Fianna Fáil said today it would raise the old age pension to €200 per week and introduce a "homemaker’s pension" for pensioner spouses receiving the Qualified Adult Allowance.
Unveiling the party’s pension policy today, the Minister for Social Welfare, Mr Ahern, said his party remained committed to maintaining the National Pension Reserve Fund and the payment of 1 per cent of GNP per annum into the fund.
"Fianna Fáil will not raid the fund, we will not consider it," he said.
Mr Ahern said the new homemaker’s pension would be set at the level of a full non-contributory pension.
Fianna Fáil has also pledged to remove the requirement whereby a person reaching 65 must first retire for a period before being able to work and retain a portion of their pension.
Labour Party finance spokesperson, Mr Derek McDowell, has described Fianna Fáil’s commitment to a €200 pension by 2007 as inadequate
He said that Labour would achieve that target by 2004, in two budgets and thereafter link pension increases to wages growth.
Mr McDowell said that Mr Ahern had told so many lies about the pension fund that he was simply not believable.
"I’d be delighted to debate the issue of the pension fund with the Minister but he needs to start telling the truth about the issue." Mr McDowell said.
Mr McDowell also called on Fianna Fáil to clarify the line in its manifesto which says that the pension fund will not be used for current use. "Fianna Fáil's intentions for the pension fund are shrouded in the general maze of their plans for capital spending," he added.