Dara Calleary (Mayo, Fianna Fail)
Link to this: Individually | In context

Part of NAERSA's remit is to ensure we get value for money in line with the normal returns on a pension and to ensure the majority of money people invest goes back into their pensions. From what we are seeing in the procurement process for investment advisers, the fact we are bringing 800,000 people to the table has considerably reduced the costs. If those 800,000 people had gone the traditional way of finding their own personal pension plans, their costs would have been considerably higher. Already in this preliminary stage, it is showing value for money but I am with the Deputy on that. When we put the board and chair in place, they will be clear on that.

I cannot give a timeline on the means testing. We have made huge changes and will continue that pattern of change. I also want to increase carers' weekly payment and make many other investments. I see our social protection system as an investment, particularly in carers. I want to make other improvements as well. We have to time those and make sure they are all sustainable.