Terence Flanagan (Dublin North East, Renua Ireland)
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136. To ask the Tánaiste and Minister for Social Protection the status of the report of the Universal Retirement Savings Group (details supplied); and if she will make a statement on the matter. [40266/15]

Joan Burton (Dublin West, Labour)
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In line with the Statement of Government Priorities, in January of this year the Government decided to proceed with work to develop a roadmap and timeline for the introduction of a new, universal, supplementary workplace retirement saving system. This work is being progressed by a Universal Retirement Savings Group (URSG), which is comprised of Assistant Secretary level representatives from a range of Departments/Agencies and includes experts from the UK and OECD. In addition to the 5 meetings of the full Group to date a number of thematic sub groups have also been established.

To date the URSG has considered a broad range of issues including whether the optimal model would be one which is mandatory for those currently without supplementary retirement savings coverage or one which would automatically enrol those without supplementary retirement savings coverage but allow those individuals to opt out should they so choose.

To facilitate input from, and engagement with, sectoral interests, the URSG has undertaken a consultation process. The first stage of this process involved issuing a briefing document and an ‘Invitation for Submissions’ to approximately 35 industry/employer/trade union/consumer and advocate groups. The second stage involved representatives of the URSG meeting with many of the sectoral interests to discuss the submissions received and allow further articulation of views. A number of consumer focus groups have also been held to establish attitudes towards mandatory and auto enrolment retirement savings systems.

In addition to the above, consultations between URSG representatives and a range of international/Irish subject matter experts have also taken place to inform the deliberative process. This includes experts from Australia, New Zealand, Canada, the United Kingdom, the United States and the OECD.

On completion of this phase of work, the URSG will provide a report to Government detailing the constituent factors involved in constructing an efficient and effective universal retirement savings system.