John Curran (Dublin Mid West, Fianna Fail) | Oireachtas source

Mr. Courtney and Ms Toner spoke to the Department yesterday and the committee will get written clarification on the matter in question. They can see the willingness of the committee to resolve the issue. Let us see where we go from there from the point of view of the Department. The case was well put. In particular, it involves such a small and well-defined group.

Will Mr. Kennedy indicate whether the proposed amendments are emanating from the Pensions Authority or from the Department?

Mr. O'Brien heard my questioning of Mr. Kennedy about the cost involved and the impact on business. I was very taken with Mr. O'Brien's statement to the effect that, "IBEC shares the Government’s ambition to protect scheme members, to encourage employers to ensure that schemes are well funded and to prevent employers who will not pay, as opposed to those who cannot pay ...". My concern relates to how we might bridge that gap in a voluntary system? I have grave concerns regarding the move from a voluntary to a mandatory system, particularly in light of the fact that the costings associated with such a move and the ability of companies to bear those costs have not been ascertained. That is significant work which should have been done. On the other hand, Mr. Fergal O’Brien clearly outlined the will-not-pay versus the cannot-pay scenario. How does he envisage that gap being bridged in the absence of legislation?

Perhaps we will start with Mr. O'Brien. He can address the questions posed by colleagues as well as myself.