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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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Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
