Many people are at the risk of pensioner poverty due to the lack of long-term pension planning in Ireland, a new report revealed today.
Generally, Ireland compares favourably to other OECD nations in the study, however, the OECD’s Pensions at a Glance 2015, has said pensions in many countries in the future may be much less generous than today.
The lack of any mandatory pension scheme in the country despite promises by our government is highlighted in the report. Gerry Moriarty, Director of Policy with the Irish Association of Pension Funds commented on the findings of the report.
“The Government has set out a number of times that they were going to set out some sort of mandatory saving system,
“Whether that is on an auto enrolment basis which they have in the UK where you are automatically put in to a pension scheme but you have the option of opting out,
“And the language they use is you know, this is supposed to implemented when economic systems are better and I think that has been one of the disappointing things is that there has been very little action on this and we just seem to produce report after report without actually doing anything.”