NESF seeks promotion of pension plans

A government-led information campaign, part-funded by the pension industry, should be undertaken to promote awareness of the …

A government-led information campaign, part-funded by the pension industry, should be undertaken to promote awareness of the need for pension provision, the National Economic and Social Forum (NESF) said in its latest report.

The campaign should be targeted at particular sectors such as the self-employed, young people, women and those working in small and medium-sized enterprises, according to the report, which examined a range of pension policy issues. "The idea of a long-term pensionable job for life is not something people can now expect," the NESF chairperson, Ms Maureen Gaffney, said at the formal presentation of the report, which has been referred to the Pensions Board for consideration.

The NESF said Ireland was facing into a period when it would enjoy one of the most favourable age-dependency ratios in Europe, but it needed to assess and plan the policy implications of its ageing population to avoid the crises in some European countries.

It recommended that Irish pensions' policy should have "a redistributive and equity dimension" or that all should be seen to live above poverty. The NESF said pension regulations should be equitable and equality-proofed and the pension system should be simple in design and efficient in operation. The NESF, which placed particular emphasis on those dependent on State pensions, urged that the rates of payment on the remaining two State pensions which fall below minimum recommended levels be brought up to these levels at a cost of around £11.2 million.

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It proposed that current labour market strategies be reviewed in order to maximise the chances of the long-term unemployed obtaining a State contributory pension and suggested that the feasibility of providing personal, portable pension schemes for those on long-duration Government training and employment schemes be explored.

The NESF, which brings together the Government, the social partners and other groups such as women and the unemployed in the development of economic and social policy initiatives, also suggested that an optimum pensions' strategy be developed for the 60,000 people working in the community and voluntary sector.