Shane Ross (Independent)

I wish to share time with Senator O'Toole. I welcome the Minister to the House and I welcome the vigour with which he has addressed the subject before us. It is typical of his approach to any ministerial portfolio he attracts. He addresses difficult subjects with a great deal of energy. I hope however that the results here will be more successful than in his last portfolio. Although the Minister has hit the right buttons by seeking a report, I suggest that more radical efforts are needed, as is more immediate action if he is to fulfil his promise.

I will take up some points well articulated by both previous speakers. The Pensions Board is a pretty sick, inadequate body. We have a problem currently with pensions because we have a fairly sleepy Pensions Board. The board is made up of political appointees who represent various vested interests in the pensions industry. They are the last people who should be on the Pensions Board. The pensions industry is a sick and greedy honeypot. It involves a mountain of money in which people have had their greasy paws for a long time, and they do not wish to remove them.