Ireland Archives - Page 4 of 10 - Pension Policy International

14OctOctober 14, 2020

Ireland. State pension age will not rise in January, Minister confirms

The state pension age will not rise to 67 next January, the Minister for Public Expenditure and Reform, Michael McGrath confirmed in his budget speech. “I can confirm to the House that, in line with the Programme for Government commitment, the planned increase in the pension age to 67 on January 1st, 2021 will not proceed,” the Minister said. He said that a Pensions Commission would be established in line with the Programme for Government and the Government would...

October 14, 2020

News, Slider2020, Ireland, Retirement Age

08OctOctober 8, 2020

Ireland. State’s pension scheme for public servants ‘more sustainable’

Over 40% of the government's 345,000 employees now belong to the less generous pension scheme introduced for new entrants in 2013, according to an expenditure review issued by the Department of Public Expenditure and Reform today. The review describes the introduction of the state's Single Scheme for public servants' pensions as "arguably the most fundamental reform to date" which is set to put the state pension bill on a sustainable footing. Before its introduction, there were fears...

October 8, 2020

News, Slider2020, Ireland, Pension Reform, State Pensions

31AugAugust 31, 2020

Irish pension money in equities reduced – report

Irish defined benefit pension schemes have reduced their equity allocations by almost a third in the past three years. Equity allocations for Irish defined benefit schemes fell to 27pc this year, compared to 39pc in 2017. This is according to the 2020 ‘European Asset Allocations’ report from Mercer. The report finds that allocations to fixed income investments like corporate bonds over the same period have risen to 50pc from 48pc. The allocation to assets like property, private equity and...

August 31, 2020

News, Slider2020, Investment, Ireland

24AugAugust 24, 2020

UK. Why we’re largely a nation of ‘no clues’ on pensions

Alarm bells are ringing again after further dark news about pension saving in the UK. A lack of planning, a lack of knowledge, and just not getting around to thinking about pensions means that even those who are saving into a workplace or personal pension are still doing so passively. We save according to the legal minimums required, rather than asking ourselves the crucial question: how much will I need, and how much must I save right now,...

August 24, 2020

News, Slider2020, Ireland, Pension Management, Saving

17AugAugust 17, 2020

Ireland. Kicking pensions can down the road will cost us all

During this pandemic the Government must not ignore the urgent need for pension reform. After protracted negotiations to form a new Government, urgent attention is now required to reform the pension system and protect the retirement security of future pensioners. The underlying issues are clear: our population continues to age; the cost of providing State pension support is growing; and the participation rates and adequacy of private pension saving remain too low. Experience shows that longer-term issues such as...

August 17, 2020

News, Slider2020, Ireland, Pension Reform, Regulation

15JulJuly 15, 2020

Ireland. Ageing population will have ‘substantial’ impact on government debt – IFAC

The Irish Fiscal Advisory Council (IFAC) has warned that Ireland will soon become one of the fastest ageing populations in the EU. In its first Long Term Sustainability Report, the council said the impact on government debt will be "substantial" and "long-lasting". The percentage of the population aged 65 and over, compared to the numbers aged 15-64, will more than double from 22% today to almost 47% in 2050. This means relatively fewer people working to sustain higher spending...

July 15, 2020

News, Slider2020, Aging, Ireland

08JunJune 8, 2020

Ireland. Warning of cuts to social welfare unless pension age is raised to 67

Cuts to social welfare will be needed if the new government does not push up the pension age to 67 next year. The Department of Employment Affairs and Social Protection has warned that reductions in other social protection payments may be necessary if the pension age stays the same. It said ensuring the pension system is sustainable is vital if current workers are to receive a pension when they reach retirement age in the future. Read more @Independent

June 8, 2020

News, Slider2020, Europe, Ireland, Pension Reform

24AprApril 24, 2020

Does Retirement Affect Voluntary Work Provision? Evidence from England, Ireland and the U.S

By Peter Eibich, Angelo Lorenti, Irene Mosca Voluntary work is an important contribution for many non-profit organizations, such as charities, political and religious organizations. Older individuals make up a sizable share of the volunteer workforce, and volunteering is often regarded as an example of "active ageing". In this study, we examine whether retirement has a causal effect on the frequency of voluntary work provision in three English-speaking countries - England, Ireland and the U.S. We draw on data from...

April 24, 2020

Aging, Articles, Labor MarketIreland, Pension design, UK, US

22AprApril 22, 2020

Ireland. Over 1 MILLION people now claiming social protection payments

The number of people now claiming some form of social protection payment has exceeded 1m after another 50,000 people received the COVID-19 Pandemic Unemployment Payment. The Department of Employment Affairs and Social Protection has issued the €350 weekly payment to 584,000 people who have lost their jobs as a result of the coronavirus, adding to the 212,000 people in the Live Register. A further 46,000 employers have signed up to the newly expanded wage subsidy scheme, with over 281,200...

April 22, 2020

News, Slider2020, Coronavirus, COVID-19, Ireland, Pension, Social Protection

20AprApril 20, 2020

Ireland. Concern growing as social welfare budget nears breaking point

Concern is growing across Fianna Fáil and Fine Gael over the capacity of the Department of Social Protection to continue to fund the cost of the coronavirus shutdown without an emergency estimate. The scale of the fiscal challenges are so steep one senior Government source warned: ‘The cost of dealing with coronavirus and its impact, especially on the Social Protection budget, may compel Fine Gael and Fianna Fáil to escalate the process of government formation.’ Fianna Fáil and Fine Gael are...

April 20, 2020

News, SliderCoronavirus, COVID-19, Europe, Ireland, Social Protection, System sustainability

October 2020

Ireland. State pension age will not rise in January, Minister confirms

Ireland. State’s pension scheme for public servants ‘more sustainable’

August 2020

Irish pension money in equities reduced – report

UK. Why we’re largely a nation of ‘no clues’ on pensions

Ireland. Kicking pensions can down the road will cost us all

July 2020

Ireland. Ageing population will have ‘substantial’ impact on government debt – IFAC

June 2020

Ireland. Warning of cuts to social welfare unless pension age is raised to 67

April 2020

Does Retirement Affect Voluntary Work Provision? Evidence from England, Ireland and the U.S