Martin Cullen (Waterford, Fianna Fail)

The situation is more complex than that and I would not accept that we are putting everything on the long finger. In recent years, investment in the National Pensions Reserve Fund has been significant and innovative. Many European countries would like to do the same. The investment in the social welfare system and the increase in the non-contributory pension in recent years have been significant.

The Deputy addressed precisely the complexity of the points raised in the Green Paper, namely, how to deal with the issues in the long term. I do not have the answers with me. I have a number of ideas, but I must interact with the social partners and all of the stakeholders in the system. I worry that everyone will approach the debate with vested interests, namely, to pay as little as possible and leave the problem for someone else. If that is the approach, we will get nowhere. The debate must be comprehensive and get buy-in from trade unions, employers, the financial markets and the State. Only in that context can we address specific issues. For example, not only is there a poor take-up of pensions in the hospitality and tourism sectors in which many women are employed, but the level of pensions awareness therein is one of the lowest.

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