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."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.