State Savings Schemes
Dail Éireann — 2026-02-26
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Eoin Hayes (SD), Dublin Bay South

I join the Minister in that. I want to make sure auto-enrolment is as successful as possible. I am confident the investment side, in terms of the investment fees, has been very well handled. In terms of the value for money, the Minister has got a very good rate for people.
On administration fees, and I will send this information to the Minister, it strikes me that people who are on the lower incomes - for example, somebody who is on €20,000 for the rest of their life - will spend approximately 3.24% of their contributions on administration fees. By contrast, someone on €80,000 for the duration of the scheme will spend less than 1% on administration fees. There is a question there. If you are on a lower income, a flat rate will be a higher proportion and that may rob people of that financial security into the future. Will the Minister, or NAERSA, consider changing that administration fee in the future to make it more progressive, so that people who are on lower incomes are spending a less of a proportion of their income on the administration of the fund and that it is similarly progressive for people on higher incomes?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-02-26/debate/main
Retrieved: 2026-08-14T04:54:42+00:00
Sitting date: 2026-02-26