IRELAND - Ireland is set to create a separate single pension scheme for all new entrants to the public service in a bid to reduce the state's pension bill, minister of finance Brian Lenihan said yesterday during the presentation of the 2010 Budget.
The new scheme will be in place by the end of 2010 and will calculate benefits based on "career average" earnings instead of final salary on retirement. The minimum pension age for new public se...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date