Dáil Éireann Debate, Wednesday - 15 April 2015
111. Deputy Terence Flanagan asked the Tánaiste and Minister for Social Protection the persons who have been appointed to the interdepartmental group on auto-enrolment; the external bodies or persons who are, or will be, consulted on the matter; the group's objectives and time frame; if she will publish the minutes of its meetings; the budget that has been allocated for research; and if she will make a statement on the matter. [14761/15]
Amharc ar fhreagraIn line with the Statement of Government Priorities, the Government recently decided to proceed with work to develop a roadmap and timeline for the introduction of a new, universal, supplementary workplace retirement saving scheme. The development of this roadmap will be progressed by a Universal Retirement Savings Group (URSG). The broad role of the group is to consider the constituent factors involved in constructing an efficient and effective universal retirement savings system and to bring a recommendation for Government consideration in the form of a scheme roadmap and estimated timeline for introduction. It is hoped to have this work completed by the end of 2015.
The URSG is chaired by the Department of Social Protection and comprises officials at Assistant Secretary level or equivalent from the Departments of the Taoiseach, Finance, Public Expenditure and Reform, and Jobs, Enterprise and Innovation, and from the Office of the Revenue Commissioners, the Pensions Authority, the National Treasury Management Agency and the Central Bank of Ireland. Membership also includes senior 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. The Group is being supported by the Pensions Policy Unit in the Department of Social Protection.
Two meetings of the URSG have taken place to date. As the Group is managing the deliberative process which will underpin the development of the roadmap, material relating to deliberations will be available after consideration by Government.
In addition to developing the roadmap, there may be a need to undertake separate and supporting research and analysis to ensure the coherency, feasibility and cost effectiveness of any plan to introduce what will be the most far reaching and progressive reform to pensions policy in recent history. The budget availability for this research will be informed by the research requirements identified by the URSG.
In undertaking specific or specialised areas of its work programme the Group will consult with and invite submissions from various sectorial interests such as the pensions industry, representatives of employers, trade unions and consumer/interest groups. The consultation process will also include an open invitation for written submissions from any parties with an interest in this area.
