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Pension debt warning

IRELAND faces a serious public pension deficit of up to 10pc of economic output by 2060, according to figures from the OECD.

The OECD reviewed the outlook for pensions in its 34 member countries. It is now expected that workers will have to work longer before retiring and will have smaller public pensions.

Today's retirees as living in a golden age for pensioners that may not be sustainable, the OECD said.