Dara Calleary (Mayo, Fianna Fail)

I appreciate that there is a cost-of-living challenge at the moment but there would be a bigger cost-of-living challenge for people if they get to retirement at 66, if they are on the average industrial wage of €46,000 or €47,000, and their only provision is the contributory State pension, which is approximately €16,000. That would present extraordinarily difficult choices to people at that stage.

We are the last country in the OECD to introduce this. That is why we can learn. That is why we have adapted a middle road in terms of the best potential way to reach the objective of any automatic enrolment system, which is to give people certainty in retirement.

There will be a six-month period for people to get used to it and to see the benefits of it. In that six months, through the My Future Fund app, people will see that their €3 is becoming €7 and every €3 they put in is matched with €3 from their employer and by €1 from the State. The more people see that, the more they will realise that this is a good option for them.

I cannot accept the Deputy's amendment.