IRELAND - The ministry of finance has denied media reports that a proposed cut in the state pension is off the table.
Yesterday, the Irish Sunday Tribune reported the government had backed off on plans to cut the state pension, which is currently €230 ($320) per week. The government is expected to cut the pension by 5% or 10% as part of the €6bn in spending cuts it will announce on December 7.
"Nothing has been ruled in or out. Everything you read in the paper is speculation," said Ministry of Finance spokesman Brian Meenan. He declined to comment further ahead of the December announcement.
The Tribune reported the government was shelving the plan to cut state pension after a "furious reaction from Fianna Fáil backbenchers in recent days".
Support for a pension cut is waning among other parties as well. Yesterday, Green Party deputy leader Mary White insisted pension cuts must be ruled out of the budget.
She said: "Studies for support groups such as Age Action Ireland show that pensioners are very vulnerable to falling into poverty. We also know that people who now depend upon pensions are of a generation which made many sacrifices for their families and the country."
This week's edition of Professional Pensions is out now
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
The aviation sector's constant evaluation of mistakes to improve safety should be applied to defined benefit schemes, as too many are making the same mistakes again and again, latest research shows.
A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).