Mr. Declan Bolger:

There is a very robust system of governance for pensions in Ireland, particularly in the context of how one advises and communicates with customers. Also, existing schemes deal with the periods before retirement and post retirement, whereas the proposed Bill deals only with the period before retirement and accumulating the pot. There is nothing in the general scheme about what will happen post retirement. The existing schemes would obviously cater for the pre- and post-retirement phase.