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Urgent bid to tackle pension time-bomb will be thwarted by impact of virus

Richard Curran


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Worries: Around 30,000 Irish people will turn 65 this year, a number of them will have seen their pension value drop by a fifth

Worries: Around 30,000 Irish people will turn 65 this year, a number of them will have seen their pension value drop by a fifth

Worries: Around 30,000 Irish people will turn 65 this year, a number of them will have seen their pension value drop by a fifth

RTÉ broadcaster Joe Duffy raised an important point about the financial cost of the coronavirus for many people at the weekend. He told the 'Sunday Independent' he had lost his pension for the second time in 10 years.

As a contractor to RTÉ he isn't part of the State broadcaster's pension scheme and therefore puts into his own pension, and whatever is there is there when he retires.

Only 56pc of people in employment have pension coverage and the impact of Covid-19 on pensions may be a lot deeper than the duration of the lockdown.