Results 1-12 of 12 for long segment:8891097

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Patrick Costello: ...conversation to be had here. As has been said by other speakers, we are looking at the future Ireland fund. We need similar rules and similar thinking there. We are talking about the need for long-term thinking. Many people here have spoken about the need to think about the long term. For many people I know, it is hard to think in that way because of the crushing reality of climate...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Heather Humphreys: ...administration of these over many decades. Accordingly, it would need to either build these or contract for their provision. Giving this task to the NTMA would be to add something very new to its long list of existing functions. The Government is of the view that this is so important it needs to be a dedicated expert function and so has chosen to establish a new body specifically for...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Richard Bruton: I welcome the introduction of this legislation. It has indeed been a long time in gestation. I suspect it is probably a decade since this was first thought about, if not more.

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Richard Bruton: ...pensions provision. This legislation will begin to address those. It is important to recognise that the legislation will begin to address income inadequacy in retirement but it will be a long time before we see it doing so significantly. People will need to be reassured that the State has a long-term commitment to the development of the contributory old age pension and that there is...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Leo Varadkar: ...into account all the different submissions and conflicting opinions. The late Seamus Brennan first mooted introducing this measure 25 years ago. It certainly has been in the pipeline for a very long time. In many ways, it is a pity it was not done back then. If it had been, there are people retiring today and having to get by on the State pension alone who would now have 25 years of...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Denis Naughten: ...views about the potential adverse consequences for businesses, especially SMEs, if the Bill is enacted as initiated. The issues identified in the correspondence include that the Bill should encourage long-term decision-making by employees. In cases where employers are obliged to administer the statutory auto-enrolment scheme in parallel with existing occupational schemes, there could be...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Willie O'Dea: ...very welcome, particularly after all of this time. There are one or two questions I would like to ask the Minister. I have not had time to study the Bill in great detail as of yet, as it is a very long Bill. Looking through the Bill as much as I could today, I notice a significant increase in bureaucracy. There is the central processing authority, then there is a new body being...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Catherine Connolly: ...that 87% of its members agreed that there should be some form of mandatory pension scheme. Then, of course, from a market consumer demand perspective, the ESRI research indicates that over the longer term, this automatic enrolment will be good for the economy as retired people will spend more. We are now designating people as consumers and very little else. We are talking about a...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Danny Healy-Rae: ...and petrol. People who have to travel the roads to get to work are paying an exorbitant price that is not being paid in any other country. A barrel of oil is cheaper today than it has been for a long time in spite of what is happening here in Ireland. There is reckless squandering of money. The Government is telling us that we must opt into this EU migration pact. How is it that we...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Michael Collins: ...existing pension schemes, there may still be gaps in coverage. Some workers, such as those in the gig economy and part-time workers, may not benefit fully. The success of the system hinges on its long-term viability. Adequate funding, efficient management and adaptability to changing demographics are essential. Depending on market performance, the accumulated savings of participants...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Jennifer Murnane O'Connor: ..., particularly in rural Ireland. I have met with several business owners recently in my own area. We know this has to happen because the one thing we see now is that people are living longer, and that is really welcome. However, people would not live on an old age pension. They would need two pensions coming in to survive, particularly we are talking about a couple and one has...

Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Éamon Ó Cuív: ...investment in fossil fuels and the arms industry. We should ban investment in fossil fuels because they are damaging the climate and in the arms industry because it is totally immoral to invest in that industry. We live in a world in which if we are not careful, we will not have to worry about pensions because we will all blow each other up long before they become a concern. That,...