Jack Chambers (Dublin West, Fianna Fail) | Oireachtas source

On the design and operation of auto-enrolment more generally, this was discussed at length by the Minister, Deputy Humphreys, when she was bringing this legislation through the Houses. In this Bill, we are simply putting in place the taxation provisions relating to the auto-enrolment system in line with the design set out by the Minister, Deputy Humphreys, and introduced in the legislation. It must be emphasised that the auto-enrolment funds will be the personal property of participants in the scheme rather than a new national fund. As stated previously, the auto-enrolment participants' moneys are on a par with those invested in occupational or supplementary private pension schemes. It is not a direct fund. That was the context of what was set out by the Minister, Deputy Humphreys, at the time.