Minister for Social Affairs Seamus Brennan has said the introduction of mandatory pensions for workers is still under consideration.
Speaking at the publication of the Irish Pension Board's annual report for 2004, Mr Brennan said there had only been "limited progress" on Government targets for increasing pensions coverage.
Minister for Social Affairs Seamus Brennan
He said: "Out of a workforce of some two million, an estimated 900,000 do not have a private or occupational pension to boost their incomes in retirement."
The Minister said: "The issue of introducing more mandatory requirements is under close examination, and I have also asked that the board explore innovative ways of encouraging and allowing people to work past official retirement dates and age restrictions, if they wish to do so."
The board is reviewing the pension system in Ireland, and a report is due to be given to the Minister in October.
Mr Brennan said he has also asked the board to examine how best to tap into the savings habit created by the SSIAs as one route to creating a pensions/savings scheme that would have widespread appeal.
He said as part of its review the board had selected five pension systems for assessment and that he was making these public to stimulate further discussion.
The first option is an enhancement of the current voluntary supplementary system, with a tax credit of 42 per cent on employee contributions.
The second is a mandatory supplementary private system where employer and employees contribute 5 per cent of earnings to the scheme.
The third option involves a mandatory 5 per cent supplementary state system; the fourth involves a mandatory supplementary state earnings related system, where pensioners receive 1 per cent of revalued annual earnings for each year of contribution.
The fifth consideration is an enhanced basic state pension of 50 per cent of average industrial earnings.