Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

If I might make a closing remark, I thank the Ceann Comhairle for facilitating the Bill in being reported back from the Seanad. I also thank Deputies for their contribution to the debate during its passage through the House. My thanks is also extended to my colleagues in government and, in particular, to the Minister, Deputy Pascal Donohoe, the former Minster, Deputy Michael McGrath, and those across the political spectrum for their support in getting the Bill to this point.

I pay a huge thank you to the staff in the Department of Social Protection. They have put a huge amount of effort and work into getting this Bill to where it is today and I really thank them for that.

I acknowledge the work the joint committee undertook in its pre-legislative scrutiny of the general scheme of the Bill. The work of that committee was thorough and its deliberations helped to inform the drafting process that was undertaken afterwards.

The introduction of auto-enrolment has been a key priority for me since my appointment as Minister for Social Protection. I am delighted to finally have this Bill passed by both Houses of the Oireachtas. This is an historic moment as we set up a new retirement savings system for generations of Irish citizens to come. In this sense, it parallels the State pension system, whose seeds were first sown in 1908. Automatic enrolment is about sending a clear message to our workers, and in particular to the young workers of today, that we want them to be able to look forward to a secure financial future. As I have said before, long life is a blessing, not a burden. When implemented, automatic enrolment will ensure hard-working people are supported in building up savings for their retirement which they can enjoy on top of the State pension, thereby helping them to sustain a good standard of living in that phase of their lives.

I look forward to the Bill's signing by the President in the near future and the implementation of the system next year. It has taken nearly 30 years to get this far but we are here now.

See this speech in context