By Juno McEnroe, Political Correspondent

Fianna Fáil have proposed a referendum to prevent future governments raiding pension funds in a time of economic crisis.

The party is also proposing an auto-enrolment pensions contribution scheme, where private sector workers would opt out if they did not want to pay.

The scheme would be phased in over three years and apply to people earning over €15,000 and over 21 years of age.

Party finance spokesman Michael McGrath pointed out that less than 60% of private sector workers had enrolled in pension schemes in Ireland.

This compares to Britain, where employees have been automatic enrolled in larger firms since 2012.

Mr McGrath claimed the outgoing coalition had raided through a levy private pension savings during the recession, "destroying" them, and the €2.5bn taken could never be recovered.

The party is committed to holding a referendum, during the first year of the next administration, which would prevent this.

The party is also committed to increasing the state pension by €30 over the next five years.

Meanwhile, Mr McGrath has said a proposal by former party minister Conor Lenihan this morning for a rotating Taoiseach was "pie in the sky" stuff.

Mr Lenihan said Fianna Fáil leader Micheál Martin and Fine Gael leader Enda Kenny could share the position.