Maurice Cummins (Fine Gael) | Oireachtas source

I agree with Senator Hayden. Many people in small businesses are trying to access whatever funding they can get their hands on. Some are in defined benefit contribution schemes and defined contribution schemes, which are different. It is very difficult for them to access that money from defined contribution schemes. They have to put the money into a defined benefit scheme rather than being able to access it. Some of those people have told me they need the money to start a business or to keep a business going but they are told that they must put it into an ARF or defined benefit scheme. Is there anything that can be done to enable these people to access to their money? I appreciate and commend the Minister's efforts to enable people to access part of their AVCs in a way that will not affect their pensions. That is a very good move which was suggested by several Senators. Is there any mechanism or proposal to allow access to defined contribution schemes?