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

I agree with much of the Deputy's analysis. The levels of private pension coverage are not what we want them to be because many citizens face the prospect of only having the State non-contributory pension on which to depend in the future. The other major difference between them and previous generations is that an increasing number of individuals will be renting. Therefore, unlike their predecessors, they will not own financial assets like a home. This has the potential to significantly affect the income streams to which they will be able to access in later life.

With respect, I am not the lead Minister on pension policy. It is the Minister for Employment Affairs and Social Protection, Deputy Regina Doherty. For the reasons outlined, however, I fully support her in putting in place a framework to address this issue which I expect to be presented in a number of weeks' time when the Deputy will see that it will try to move the issue forward from the work done in the Department while she was leading it.

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