Willie O'Dea (Limerick City, Fianna Fail) | Oireachtas source

I move amendment No. 17:

In page 12, between lines 18 and 19, to insert the following:

“(1AD) Trustees must outline in clear language the current and future prospects of their pension fund to beneficiaries on an annual basis.”,”.

This amendment would oblige trustees to communicate people's entitlements and where they stand in clear language at the end of each year. I have seen some documentation that people have received over the years. While I do not cast any aspersions on the Minister or her Department, it would be easier to read Swahili. I know lawyers are obliged to state things in a certain way and in order to cover themselves they must use certain phraseology, etc. Having used all that exotic phraseology and legal terminology, surely it would not be beyond the wit of people, who manage pension schemes and do very well out of it as we will demonstrate in a moment, to put the thing in fairly simple language so that people can know approximately where they stand.