IRELAND - The Irish Association of Pension Funds (IAPF) hailed yesterday's green paper, as an opportunity to make pensions more attractive and understandable.
Despite taunts from some opposition parties that the paper did not go far enough, the prospect of discussion was welcomed by most quarters.
Jerry Moriarty, director of policy, IAPF, said: “This debate is hugely important and will impact all of our futures.”
He also commented that areas of legislation, such as tax relief, were not widely understood by the general public and this document would open up wide debates on pensions.
The IAPF told its members it would be examining the paper over the coming months and making submissions on their behalf. The association called for members to get involved with the debate.
Moriarty concluded: “We believe that there are many further changes that can be made to the current system that will allow the achievement of the common goal of securing a comfortable retirement for everybody.”
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.