Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein) | Oireachtas source

I move amendment No. 6:

In page 43, line 17, to delete “6 months” and substitute “1 day”.

This is not our primary objection to the legislation. That primarily relates to the manner of investment. However, we are conscious of the cost-of-living crisis. For somebody on a low income, earning €20,000 a year, the deduction is €5.76 a week or €20 to €30 a month. While to many people that might not be huge, for someone on a low income, it is a bit of money. They may be in circumstances where that €20 or €30 at the end of the month is crucial in terms of bills and so on. I do not think it fundamentally alters the fact that they would be opted in. They would still have to opt out. It does not make it an opt-in system by any manner or means. They would still be auto-enrolled and indeed, re-auto-enrolled, which is something that we would agree with. However, six months to opt out is quite substantial. It means for people who, if under that level of financial pressure, might need access to what is ultimately their own money, six months is a lengthy period. We are proposing they would have that opportunity from day one, albeit, if somebody was asking me for advice, I would probably say to keep it in. Ultimately, it is their money and they should have that option. This structure should remain on the basis that it would not be an opt-in system and that it would be opt-out.