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

The Deputy makes two fair points. First, if we are to set up a structure to incentivise citizens to leave more aside for the future, we must avoid a situation where the funds they will leave aside will be eroded by the fees and charges levied by those who will manage the funds. I am aware of that matter. If we are to ask people to set aside what could be a noticeable amount of their after-tax income, we will need to give them the confidence that that income will be used in the future to generate other income.

On the Deputy's second point about the potential role of the taxpayer in supporting such contributions, there could be that need. The Minister, Deputy Regina Doherty, is finalising the roadmap which she will publish soon and I am working with her on the matter. We need to reach a point at which we will not just be looking at a single contribution from a worker but also considering what contribution the employer can make and role the State might have. I am alive to that issue.

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