Ireland. USC billions for pensions abyss

The Government’s long- promised plan to merge USC and PRSI could be used to offset the growing risk posed to the country’s financial stability by the pension time-bomb, the Sunday Independent can reveal.

Senior Government sources believe a significant amount of the €4bn raised annually from USC could be combined with PRSI to fill the black hole in the country’s pension fund.

Minister for Social Protection Regina Doherty is understood to be eager to dramatically increase the amount of funding her department receives once the merger is completed.

Read More: Independent