Dáil Éireann Debate, Wednesday - 6 May 2015
86. Deputy Terence Flanagan asked the Tánaiste and Minister for Social Protection her views on a matter (details supplied) regarding the universal retirement savings group; and if she will make a statement on the matter. [17494/15]
View answerIn line with the Statement of Government Priorities, the Government recently decided to proceed with work to develop a roadmap for the introduction of a new, universal, supplementary workplace retirement saving scheme. The Universal Retirement Savings Group (URSG) has been established to consider the constituent factors involved in constructing an efficient and effective universal retirement savings system and to bring forward a recommendation in the form of a roadmap and estimated timeline for introduction.
Membership of the URSG does not include industry/employer representatives with a commercial interest. Rather it consists of senior officials from a range of key Government departments and those public bodies with a particular policy responsibility and expertise in the area. Membership also includes international representatives from the UK's Department for Work and Pensions and the OECD who bring significant expertise in designing, delivering and assessing supplementary pension systems.
Development of a universal supplementary pension scheme would be the fundamental reform of pensions policy in a generation. As such, it is appropriate that the URSG consult with all parties with an interest and expertise in this area. In undertaking specific or specialised areas of its work programme the Group may engage with, and invite submissions from, pension's experts external to the Group. This will include a diverse range of interests including representatives of employers, trade unions, consumer/interest groups and those from the pensions industry.
