Marc Ó Cathasaigh (Waterford, Green Party) | Oireachtas source

That point is well made. The funds should be mandated to produce certain outcomes, and if we do not define those outcomes, then the only motive will be profit. It is critical that such things as divestment from fossil fuels, where money is sent and the ethics of the investment are designed into the default model. I know people will be subsequently able to choose from three different investment products, but we know many people will stay where they land. It is critical we design some values into the products being made available for people because we will be talking about a very large sum of money once this is established and it should be put to work in a way that reflects the values of the State. I will not ask the witnesses to comment on that because it is outside what they are being asked to do. Will they comment on the statutory protection against future raiding? It will be a substantial amount of money. At some point in the future of the State it will begin raining again. Are there enough protections built into the Bill or do they need to be strengthened to ensure that, the next time it starts raining in the economy, if it is not raining already, they are adequate to make sure the pension fund remains a pension fund?