Dáil debates

Thursday, 27 October 2005

4:00 pm

Photo of Séamus BrennanSéamus Brennan (Dublin South, Fianna Fail)

IBEC and ICTU are represented on the Pensions Board so to that extent they are being fully consulted and have a direct input. I will consult them directly after publication of the report to hear their responses to it. I have pressed my colleagues to include pensions on the agenda of national pay talks and partnership agreements and not focus only on workers' current requirements and pressures.

A total of 55,000 people have taken out PRSAs. The number is growing steadily but is well below what it should be. The main reason for the slow uptake is that it is voluntary and employers are required to facilitate taking out a PRSA but not to push people to do it. A completely voluntary scheme that involves paying out a weekly or monthly sum is always difficult to sell.

There may be a case for being tougher on employers to bring the PRSA more forcefully to the attention of the employee. I do not wish to say too much before the report comes out but this may be a soft mandatory area where employers might be required to ask employees to say "No" rather than help them to say "Yes".

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