Johnny Guirke (Meath West, Sinn Fein)

When money is invested, the return on it is not known. That will depend on how the investment does over time. When signing up for this scheme, people will not know what they will be able to draw down on reaching pension age. Senator Rabbitte touched on the tax implications. That is the aspect people will probably look at when deciding whether to invest in the scheme. For example, if the fund makes 100% over the lifetime of a person investing in it, will he or she be able to draw down that 100% or would it be a percentage of that 100%? Somebody has to pay for the hundred employees in Letterkenny and the communications campaign around this. Depending on the percentage it makes, what percentage of the fund would the person be entitled to, come retirement age? Will it be a tax-free lump sum? What effect that might it have on small businesses where they have to pay €3 per employee? I refer to small businesses such as corner shops and cafés. That is not a negative take on the scheme; it is just to find out for myself and for others what the implications are when it comes to investing and drawing down.