Eoin Hayes (Dublin Bay South, Social Democrats)

I thank the Minister. I genuinely welcome the clarity he will bring on the fees in the Cabinet memo next week. I also welcome the work he will be doing in regulating the allocation of funds for employees towards the right products. I would support him in bringing those regulations expeditiously, as reported in the media. I just do not agree that investment managers can be charged with the responsibilities here. This is employees' money. It is a State-mandated fund. The board has a responsibility here. I really do think that the Act is not sufficiently clear or explicit in that. I am quite disappointed that the Minister does not agree.

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