Joan Burton (Dublin West, Labour) | Oireachtas source

While I was in the Department in 2012, I commissioned Ireland's first ever study of pension charges and costs. The supplementary pension will have to be a State system because the charges, both visible and hidden, levied by private institutions have increased since the survey which I requested was conducted. People in their 30s are, we hope, moving to purchase their first home. Much of their savings will be concentrated on it. It is possible to utilise USC and, although the Minister might not agree with my recommendation, return to social partnership. In the wage and salary discussions that must take place if we are to improve workers' living standards, Government funding could be allocated to contribute to pension funds. We need to prevent a recurrence of what happened to the National Pensions Reserve Fund which basically was given to the banks.

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