Ireland may see mandatory pension plan

IRELAND MAY SEE MANDATORY PENSION PLAN

Ireland may soon see the introduction of a compulsory pensions system, according to a recent announcement.

Irish social affairs minister Seamus Brennan has claimed that it is possible that "some form of mandatory provision" would be introduced.

The question of mandatory pensions in Britain is currently being reviewed by a commission, and Mr Brennan's announcement is sure to draw attention from pension analysts in the UK.

Ireland currently has a younger population and higher birth rate than Britain, meaning that its pension problem is likely to be much less acute than Britain's.

Mr Brennan continued by saying that he was unsure how a mandatory system would be introduced and that the issue would require further review.

Although Ireland's population is still relatively young Mr Brennan warned people against complacency adding that something had to be done about the 900,000 workers with no private pension plan.

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