July 2017

10Jul

Ireland. Mandatory retirement age may be abolished

The Citizens’ Assembly is to tell the Government to abolish mandatory retirement ages, eliminate the time gap between retirement and eligibility for the old age pension, and to link that pension to average earnings, writes Caroline O’Doherty. The recommendations follow a weekend of hearings at which the assembly discussed a wide range of issues to do with income, work, and pensions for older people. Sixteen proposed recommendations were voted on and will form the basis for a detailed report to be...

July 10, 2017
News, Slider
Read more...
05Jul

Ireland. Public-sector pensions worth millions, new figures show

Public-service pensions paid to TDs, doctors and judges would cost private-sector workers between €2.4 million and €3.7 million if they were to seek the same retirement benefits, new figures show. The State uses taxes to fund the guaranteed pensions paid to its civil and public servants, including the €378,000 lump sum and €326,000 a year that former taoiseach Enda Kenny is receiving. The full value of this in private-sector terms is €5.17 million. Calculations by the Association of Pension Trustees of...

July 5, 2017
News, Slider
Read more...

June 2017

01Jun

Pension crisis as Irish Life scraps gold-plated fund

The largest pension provider in the State is closing its staff pension scheme, prompting fears that traditional defined benefit plans are now set to disappear from the private sector. Unions at Irish Life want the law altered urgently in a bid to stop the company closing its defined benefit pension for staff. Some 1,200 staff members will be hit by the move. It comes despite the Irish Life scheme having a €150m surplus. It is unusual for a private sector defined benefit scheme...

June 1, 2017
News
Read more...

May 2017

31May

Ireland. Only 35% of private sector workers have a pension, Donohoe says

Only 35 per cent of private sector workers have an occupational pension, Minister for Public Expenditure Paschal Donohoe has told the Seanad. Mr Donohoe repeated his view that the value of pensions should be considered as part of public servants’ remuneration. However, he said something would also have to be done about the level of pension coverage and provision more broadly. The demographic structure of society was changing, with those in the old age cohort growing by 20,000 annually, he added. Mr Donohoe...

May 31, 2017
News
Read more...