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James Fitzsimons: Mandatory pension funding is only way to solve crisis


It will take so long to recover from the recession that there is no prospect of averting the pension crisis that is coming.

There are three classes of workers in Ireland -- those who have pensions, those who don't and those whose pensions won't pay the bills.

The Government knows what the problem is, but the solution will not win votes with the electorate so it kicks the can down the road and leaves the solution for somebody else to find. Pensions are not mandatory, unless an employment contract adds it to the package. But even that can be reneged on now.

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