01JunJune 1, 2017

Pension crisis as Irish Life scraps gold-plated fund

admin2017-06-01T18:36:32+00:00

The largest pension provider in the State is closing its staff pension scheme, prompting fears that traditional defined benefit plans are now set to disappear from the private sector. Unions at Irish Life want the law altered urgently in a bid to stop the company closing its defined benefit pension for staff. Some 1,200 staff members will be hit by the move. It comes despite the Irish Life scheme having a €150m surplus. It is unusual for a private sector defined benefit scheme...

June 1, 2017

NewsIreland

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31MayMay 31, 2017

Ireland. Only 35% of private sector workers have a pension, Donohoe says

admin2017-05-31T17:27:25+00:00

Only 35 per cent of private sector workers have an occupational pension, Minister for Public Expenditure Paschal Donohoe has told the Seanad. Mr Donohoe repeated his view that the value of pensions should be considered as part of public servants’ remuneration. However, he said something would also have to be done about the level of pension coverage and provision more broadly. The demographic structure of society was changing, with those in the old age cohort growing by 20,000 annually, he added. Mr Donohoe...

May 31, 2017

NewsIreland

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