Aengus Ó Snodaigh (Dublin South Central, Sinn Fein) | Oireachtas source

The report recommends that a regime of transparency be imposed in respect of schemes. When a person signs up to a contract, those in the industry often state that transparency is fine with regard to new products. Does Ms Murphy expect the industry to take the recommendations on board or can they be imposed on it? When voluntary codes were introduced in the past, they were not always complied with. Anything that makes the position in respect of charges and fees more transparent would be welcome. If a person has been signed up to a pension scheme for the past ten, 20 or 30 years, he or she may wish to work out whether he or she should continue to pay into it or whether there will be a huge drop in the amount he or she will receive annually upon retirement.