Lisa McDonald (Fianna Fail)

Carers are the unsung heroes. We need to implement our commitment in Towards 2016 as soon as possible because these people very much deserve our help.

The discussion of pensions in recent years has helped to highlight the importance of this area. This legislation deals with a number of issues in respect of pensions in general. Part 3 and sections 26 to 31, inclusive, provide for amendments to the Pensions Act 1990 and some consequential amendments to the Family Law Act 1995 and the Family Law (Divorce) Act 1996. There has been considerable discussion about pensions and their future administration. This is an issue that concerns everyone, not just young people. The last thing on the mind of a young person starting out in his or her career is to start a pension or whether he or she will have one on retirement. As time goes by, people realise the importance of having a pension.

There are changes in the Bill in respect of how pension schemes are administered and who administers them. The proper regulation of trustees and third party administrators is crucial to ensure persons' rights to their pension when they reach that stage of their lives.

Overall, the Bill provides for a number of substantial and very welcome increases in social welfare. I commend the Bill to the House.