Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Perhaps I will answer the two specific questions which the Deputy put to me as part of my supplementary replies. In respect of the broad question which the Deputy tabled, she will be aware that a number of State bodies have a role in the broad area of pension policy. The Minister for Employment Affairs and Social Protection is responsible for State pension policy. As Minister for Public Expenditure and Reform, my responsibilities primarily relate to public service pensions. As Minister for Finance, my Department has a role in relation to pension policy and this role has primarily related to the use of tax policy to incentivise savings. In addition, I have responsibility for overall macroeconomic policy and fiscal sustainability. In this context I am committed, along with my colleagues in government, to reforming the area of pension provision and pension savings in Ireland.

My colleague, the Minister for Employment Affairs and Social Protection, has previously announced in this House that it is her intention soon to bring forward a comprehensive five-year pensions reform programme. Officials from both of my Departments are engaged with this programme. It is very significant as it has material implications for many stakeholders. Along with proposed reforms to the existing pensions system, it is proposed to introduce a policy of automatic enrolment to increase pension coverage and to address the issue of income adequacy in retirement for those currently without supplementary pensions. The Minister, Deputy Regina Doherty, has stated that, following Government approval and publication of the reform plan, it is intended that a detailed evidence building and consultation process will be undertaken to deliver an auto-enrolment system.

The direct answers to the two questions the Deputy has put to me are, first, that I am starkly aware of the challenges that are approaching in respect of the number of our citizens who have adequate pension coverage for the future.

Regarding the proposal on auto-enrolment, the Minister, Deputy Regina Doherty, will be advancing this matter through the roadmap for overall pension reform.

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