Oireachtas Joint and Select Committees

Wednesday, 16 July 2025

Joint Committee on Social Protection, Rural and Community Development

Engagement on Matters Relating to the Auto-Enrolment Retirement Savings Scheme: Department of Social Protection

2:00 am

Mr. Tim Duggan:

It is very important that everyone understands this is not a State fund at all. It has nothing to do with the State, in fact. All of the money in this scheme is private money. It is exactly the same as if somebody had a PRSA. It is that person's money and does not belong to anyone else. Therefore, the only way the State can get at it is if it were to introduce an incredible piece of legislation, I would have thought, and I assume everyone in this room would have a lot to say about such a thing. It is private money and, as such, it is private property and has all of the constitutional protections that are available for private property. It would be incredibly difficult for a future government to do what the Senator might be suggesting.

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