Joe Neville (Kildare North, Fine Gael)

The issue that we are here to speak about is something that has been a national topic for many of us who have stood outside schools recently. We saw the importance of pensions and what they mean to caretakers and school secretaries. What we are talking about here, however, is across the board; it represents a sea change in how we look at pensions for the nation. From a State perspective, we need to give out pensions where we can, but what we must also do is look beyond that. This is what we are trying to do here.

What is proposed represents a significant step. It was brought in by one of the candidates for in the presidential election, Heather Humphreys, when she was Minister. When it comes in, My Future Fund will provide the opportunity for 800,000 people to avail of pensions in a way that they have never done before. It is one of the most important social reforms of our generation and will give every worker in Ireland the security of a pension for the future. When I joined the workforce, I was one of those people who, after college that my 20s were going to last forever. When they hit their 30s, you think they will also last forever. Unfortunately, once you hit your 40s, you realise that this might not always last forever. It is not that you begin to see the finishing line, but you know that it is there. This is something I began to focus in on at that point. I say that as a trained accountant who should have known better. In such circumstances, we need to ensure that what is proposed becomes mandatory across the board.

For the first time, hundreds of thousands of people will be added. In the long run, this will help tackle inequality, especially for those lower and middle-income workers who might be outside the State net. These are people who need that help. What is going to happen will be simple, transparent and fair and will be done at the behest of the employer. That will be important. As the previous speaker so elegantly alluded to, this has not always been the opportunity down through the centuries. In the modern world of the 21st century, we now have the opportunity to ensure that poverty does not await as they finish their working lives. We hope not to see elderly people in Ireland working in McDonald's like their counterparts across the sea who, tragically, who worked all their lives and who have had to continue to work into their 70s. That is something we are trying to do away with.

Auto-enrolment will strengthen our economy by boosting savings and enabling people to look forward to the future. It will level the playing field so that all employers contribute. As someone who has worked with employers, I am conscious that they are concerned about costs. We need to allay their fears and ensure that we support companies in other ways. If we do this properly, we can support companies and employees. Ultimately, this is an investment in the State and its people. It is also an investment in their future and in fairness.

This is a balanced reform. It will protect and respect workers. More importantly, however, it will help to secure Ireland's future.

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