An SSIA-type pension scheme is likely to form part of a series of recommendations aimed at increasing pension coverage.
A series of consultations are due to take place over the coming months between the Government, trade unions, employers and other groups on how to help avoid a pensions crisis as a result of the ageing population.
However, there is significant political support for an SSIA-type pension scheme targeted at people on low incomes who are statistically less likely to take out a pension.
The Government has also pledged to establish such a scheme as part of its Programme for Government.
Minister for Social and Family Affairs Martin Cullen said the recent SSIA scheme had proved highly successful in promoting a culture of saving.
He said a similar model based on pensions could be introduced to promote the uptake of pensions among people on lower incomes.
"The SSIA taught us that if you put a system in place where people are putting money into something they believe in, that they can see, feel and touch and see the benefits, they'll do it," he said, in an interview with The Irish Times.
"That gives us confidence that if we structure our pension proposals in the right way, people will see it as an asset that is mobile and that they need to invest in. That's what we're trying to convince people to do."
The Minister cautioned that no firm decision has been made yet, and that all options would be discussed with the social partners and other relevant groups. He said concrete plans on how to proceed could be ready by next summer.
The Minister did not rule out the option of some form of mandatory pension which could be deducted from people's earnings at source.
"On the one hand people in work pay PRSI, which is mandatory, so it's not as if we don't do this. We have to find a mechanism which gets the balance right . . . I wouldn't rule anything out at the moment. There are all sorts of issues around mandatory and soft mandatory pensions. But there is going to have to be something which ties people in, but equally something which people want to be in," Mr Cullen said.
"I want to talk to trade unions and employers and various stakeholders to see what their views are, and to try to get everyone to leave their vested interests at the door and come up with a holistic solution."
The need for better pension coverage will grow as the number of people in the workforce supporting each State pensioner begins to fall.
While there were 5.6 workers per person over the age of 65 last year, this figure is projected to drop to 3.3 by 2031.
This means anyone currently under the age of 40 will face a significantly increased burden to support the current pension system within their working lifetime.
The Government has been talking about addressing a pensions "crisis" since the introduction of the National Pensions Policy Initiative in 1996.
There have been some achievements, such as the establishment of the National Pensions Reserve Fund and significant increases in payments to existing State pensioners in recent years.
However, persuading people to make provision for their retirement over and above the State pension is a major political challenge.
Mr Cullen said: "There is going to be pain, to some degree, everywhere . . . I want to get everyone to agree to a system that is fair. If you can get something approaching consensus, you've a better chance of getting agreement."
