Dara Calleary (Mayo, Fianna Fail)

Ireland is the last country in the OECD to introduce auto-enrolment. This is not a good thing. The only good thing about it is we can learn from other products and countries and look at what we need to change here to make sure we do not end up with their problems. We have looked closely at NEST, given its proximity to us. We will observe it and ensure, through NAERSA, which will be independent of the Department and the Minister of the day, that it keeps us relevant. Most importantly, it is necessary to ensure it is as efficient and as accessible as possible.

It is not the State's money but each individual’s money. It is money belonging to each of the 750,000 people who are a part of this scheme. They will have access to information through the My Future Fund app online to see where their money is going and its investment. They will also have the choice to make whatever investment suits their stage in life, be that high-risk, medium-risk for low-risk investment. Through all that, we will ensure the fees associated with this are understood and transparent. Many people do not have that accessibility or availability in existing pension arrangements.

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