Belfast Telegraph

Friday 29 August 2014

'Pensions gap' hits €3,800-a-year for every Irish worker

The Irish Insurance Federation says the national 'pensions gap' in Ireland has now reached almost €7.5bn-a-year.

The figure is an estimate of the shortfall in annual pension savings against the amount of money needed to provide a reasonable retirement income.

The IIF, which is holding a seminar today to discuss the matter, says the shortfall currently equates to around €3,800 per year for every worker in Ireland.

The problem is compounded by the fact that the current ratio of six workers to every retired person with fall to two-to-one in 50 years' time.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Latest News

Latest Sport

Latest Showbiz