Mr. Brendan Kennedy:

The introduction of employer obligations has advantages and disadvantages. I am not trying to avoid the Chairman's question but it is not black and white. There are advantages and disadvantages. I think many of those have been rehearsed. It obviously improves security of members. If employers are obliged to pay in more money, then there will be more money in the pensions scheme for these benefits. On the other hand, there is the issue, as IBEC has raised, about how these were voluntary arrangements. Is it or is it not right to change voluntary into mandatory? I am just saying that is an issue but am not pronouncing on it. There will be an issue whereby some employers will be able to afford their obligations while others will not. It is the Pension Authority's view that there are pros and cons and we have identified them in reports we have produced previously. The decision about whether on balance it is an appropriate thing to do is a Government policy issue and is not for us to decide.