Sunday 17 December 2017

Public sector must take its share of pension pain

Private workers are left with nothing to look forward to but working until they die, writes James Fitzsimons

If you are out of work or finding it hard to pay the bills, pensions may be the last thing on your mind. Unless you are already on a pension or shortly to go on pension, it's not your number one priority and that is understandable. But if you are finding it difficult now, imagine what retirement will be like if you have nothing put aside. Nearly a million people in this country have nothing other than the State old-age pension to rely on when they retire.

Forty years ago, it might have been enough to get by. It's not today and it certainly won't be in the future. You will live longer than expected and advanced medical care will make your life better. That might seem like a good thing, but it all costs money.

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