Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

There is no intention of putting in place an inferior service. We are trying the improve the circumstances in which consumers will have the benefit of the protection of the State and the legislation. Section 35 provides for the transfer of staff from the dissolved bodies of the Financial Services Ombudsman Bureau and the Office of the Pensions Ombudsman into the newly-established office. Subsection (1) provides that with the establishment of the amalgamated office of financial services and pensions ombudsman those who were employed in the Financial Services Ombudsman Bureau will be employed in the new amalgamated body. The terms and conditions of their employment will not be less favourable than what they have.

In addition, under section 16(3) the ombudsman will have the power to supplement staff by contracts for services. While the 37 and six staff will be in place, the ombudsman has the authority to bring in external staff to help if what the Deputy describes happens. If that happens there might be a budget implication. The objective is that the service will be better. If there is a requirement for additional staff I am sure that will become apparent very quickly.