Ireland. State pension liabilities rising 10% a year, CSO study finds
State pension liabilities are rising at a rate of 10 per cent a year, according to the latest study of Ireland’s pensions, which says pension schemes across the State have total liabilities of €607.9 billion.
The study published by the Central Statistics Office (CSO) on Wednesday examines how much Irish households were owed by private employers and government at the end of 2018 based on the pension benefits they had accumulated by that date.
The State pension accounts for almost 60 per cent of all liabilities, with public-sector pensions accounting for a further quarter. Private-sector pensions account for just over 16 per cent.
The figure for State pensions includes the contributory State pension, the widow’s, widower’s or surviving civil partner’s contributory pension, and the invalidity pension. It does not include money that will have to be paid out under means-tested non-contributory State pensions.
Overall, pension liabilities in the Republic jumped 7 per cent. However, there are big differences in the position across different pension schemes.
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