Marc Ó Cathasaigh (Waterford, Green Party)
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Even though these two amendments are grouped, they are quite different in nature, so we are discussing apples and oranges.

This is really welcome legislation, as was said on Second Stage, and it represents good policy and politics. If the scheme were up and running next year, it would be 2065 before those who had worked for 40 years would exit and benefit from it. I do not believe they will be voting for Deputy Ó Cathasaigh or the Minister, Deputy Humphreys. Deputy Humphreys might still be in politics in 2065 but I suspect I will not. There will not be a great number of votes won or lost on the basis of this committee meeting, but the Department, the Minister and her officials deserve great praise for driving this legislation forward. It is very important because it is so far-reaching. Broadly speaking, all my amendments are predicated on the idea that there are certain places in which a state should not invest its money. A state should not invest its money in munitions, nor should it invest in fossil fuels. If in 2065 we are still in the business of fossil fuels, I do not know the value of the future we are preparing for. Similarly, if we live in a future in which investment in cluster munitions and the like is profitable and, for that reason, we sign off on it without taking cognisance of our moral responsibility, it will reflect poorly on us.

The amendment is about the production of statistical data. Currently, the provision states "the Authority shall publish on its website aggregate statistical data relating to participation in the automatic enrolment retirement savings system and the level of retirement savings in the State and such other statistical information as may be prescribed". I want to add the types of funds invested in. By doing so, we would be saying that while the authority must report on the amount of retirement savings in the State, it should also be required to publish data on where the money is invested. This does not get into the argument as to whether it is right or wrong to invest in fossil fuels, munitions or otherwise, but we should be able to see where the money invested on behalf of the people, with some input from the State coffers, is invested. It should be clear to people, and the new pensions body should be required to report on it.