Michael Brennan (Progressive Democrats)

I accept the Senator's point but I wish to correct any impression I may have conveyed earlier on this matter. I have asked the Pensions Board to examine the issue of mandatory provisions in the pension system but there are a number of aspects to that. One could not make something mandatory regarding a private pension if one did not have some security of funds concerning the industry's management of it. However, we do that with regard to motor insurance, which is mandatory but where vehicle owners must obtain cover from the private sector.

The Pensions Board will also examine what role the State can play in this. I cannot see any mandatory system emerging in which the State did not play a fairly central role. At this point, however, I have an open mind on the matter and I want the board to examine the prospects.

I thank Senators for their contributions to this wide-ranging debate. I wish to thank Dr. Gerard Hughes and Dr. Dorothy Watson for their fine report from the ESRI. I have learned a considerable amount by listening to this debate. While the debate was necessary, I believe we can now move it on. I look forward to the debate coming to a conclusion when the Pensions Board provides me with its report. At that point, I will be able to bring proposals to Cabinet with a view to implementing whatever decision the Government may take. In this regard, I hope to bring proposals before both Houses of the Oireachtas without undue delay.