Noel O'Donovan (Fine Gael)

He might consider it. I welcome his presentation. This is a pragmatic and prudent project to deliver for this country, and not before time. Auto-enrolment is a cost on business. Businesses have had additional costs over the past number of years. Broadly, the scheme needs to be welcomed because any employer wants to keep their employee happy and plan into the future. I will make the point to the Government in the Seanad that in the years ahead we have to be mindful that it is small businesses that have additional costs. That message needs to go back through the Government.

Where employees have an existing pension scheme with their employer, how can that be transferred into this new pension? On the low, medium and higher risk options that will be afforded employees, I presume that is near so that will be advised in the time ahead. There could be an extra burden for employers in terms of advising employees because there will be employees who do not have pension schemes. There is the lack of information and lack of understanding. That is important information that will have to be explained and communicated to employees. How does the Department envisage that will be communicated to employees?