Tuesday 23 January 2018

The figures may be rough, but the debate is justified

'The inevitable ageing population and our increasing dependency
ratio of workers against welfare claimants, albeit slower in Ireland than in the rest of Europe, remains a ticking time bomb.' Stock Image
'The inevitable ageing population and our increasing dependency ratio of workers against welfare claimants, albeit slower in Ireland than in the rest of Europe, remains a ticking time bomb.' Stock Image
John Downing

John Downing

Most people are at the thick end of 50 before they think about pensions. Then they realise they have woken up to the issue about 40 years too late. But enough of this irrepressible optimism just 12 days from Christmas.

I was just trying to say it is no surprise that six out of 10 private sector workers have no pension provision beyond the hope that they can subsist on the Old Age Pension.

Social Protection Minister Leo Varadkar is not short of paper recounting all the implications of Ireland's ticking pensions time bomb. All of 12 years ago, this writer sat with the late great Séamus Brennan in that self-same ministerial office as he outlined the pensions problem and various remedy options.

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