Alice-Mary Higgins (Independent) | Oireachtas source

The incentives are for people who do not and will not save. The incentives relate to matching from the employer and from the State. It would be appropriate to have at least one of the four options be a low or no risk option. I am not simply talking about the State underpinning it but also about those who are seeking what will be a contract for perhaps 100,000, 200,000 or 300,000 people down the line if it becomes a default option. If people put in all their money and get the same amount back, that may seem like an awful scenario, but if people know that is the worst that can happen, that will give them assurance compared to a situation where they can lose everything. The question is not just about the risk to the individual and the State but also to what extent the risk is taken on by those providers.