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29/05/2008
Conference On Pensions Time-Bomb Gets Underway
A conference discussing ways to tackle the pensions 'time-bomb' is due to get underway in Dublin this morning.
More than a million Irish workers have no private pension and may be entirely reliant on the state pension when they retire.
At present, there are just six salaried workers paying tax for every person claiming the state pension.
However, this ratio is expected to be less than two working for one in 50 years time, resulting in a 'ticking time-bomb' for state revenues.
The gathering marks the end of a public consultation process on green-paper proposals put forward by the Government last autumn in relation to future pensions policy.
The paper sets out a number of options, including the contentious idea of mandatory pensions.
The Government is expected to announce concrete moves to address the potential pensions crisis by the end of the year.
(DW)
More than a million Irish workers have no private pension and may be entirely reliant on the state pension when they retire.
At present, there are just six salaried workers paying tax for every person claiming the state pension.
However, this ratio is expected to be less than two working for one in 50 years time, resulting in a 'ticking time-bomb' for state revenues.
The gathering marks the end of a public consultation process on green-paper proposals put forward by the Government last autumn in relation to future pensions policy.
The paper sets out a number of options, including the contentious idea of mandatory pensions.
The Government is expected to announce concrete moves to address the potential pensions crisis by the end of the year.
(DW)
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European Commissioner Máire Geoghegan-Quinn has this morning caved into Government pressure over her receipt of a hefty state pension. Ms Geoghegan-Quinn was receiving a State pensions worth over €100,000 per year while she claimed a salary worth a quarter of a million euros.
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Ireland WeatherToday:A dry day with long spells of sunshine for most, however eastern coasts will see rather more in the way of cloud at times, with just the risk of an odd light morning shower. Mainly light northerly winds. Maximum temperature 13 °C.Tonight:A fine end to the day with some evening sunshine. It remains dry overnight with a touch of frost possible in places, although cloud is expected to increase towards dawn. Minimum temperature 0 °C.
