Oireachtas Joint and Select Committees

Tuesday, 18 November 2025

Select Committee on Social Protection, Rural and Community Development

Social Welfare and Automatic Enrolment Retirement Savings System (Amendment) Bill 2025: Committee Stage

2:00 am

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal West, Sinn Fein)

I move amendment No. 11:

In page 8, between lines 32 and 33, to insert the following:
"(e) in section 68(1), by the substitution of "the National Treasury Management Agency" for "a person or persons",”.

This is my last-ditch attempt to stop this important piece of work being hijacked as a bonanza for the private sector. We believe that the investment management services should be carried out by the NTMA and that it will act in the interests of the people.

Organisations, such as Tata Consultancy Services, I understand, are involved in providing digital infrastructure for this fund. Perhaps the Minister can confirm that. This company is involved in providing digital infrastructure for Israel's settlement financing banks and it is a key partner for Project Nimbus, a military cloud project that enhances the state's capacity for surveillance. These business operations are effectively complicit in a genocide and I believe that, under the stewardship of the NTMA, it would be possible for such matters to be avoided.

The NTMA could be used - the Minister talked about the importance of the money building up - to harness this money in the direct interests of people in terms of investment in infrastructure, which is so badly and desperately needed. The purpose of this amendment, as I say, is my last ditch attempt to get the Government to turn back and to back the NTMA.

Sorry, the report was the SALAM report entitled "Architects of Occupation".

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