Sheila Terry (Fine Gael)

Pension provision has, correctly, been widely discussed in recent years. Occasionally, however, the pensions industry produces a crazy idea to encourage people to take out pensions. In recent days, the craziest proposal of all emerged from the Irish Insurance Federation. I understand the federation has met or will meet the Minister for Social and Family Affairs this week to discuss its idea of pensions for babies which would entail encouraging parents and grandparents to take out and fund pensions for babies within a few weeks of birth.

On several occasions, I asked the Minister the reason she has not addressed the inadequate pensions of many people who have reached or are about to reach pension age and whose pensions have been eroded and mismanaged by pension fund companies.