Government’s moment of clarity over pensions

DURING the week the Government had a brief moment of clarity and realised the stresses facing the defined benefit pensions sector.

As a result it lifted the November deadline placed on firms to submit detailed refinancing pension plans.

Delegates attending the Irish Association of Pension Funds (IAPF) pension seminar in Dublin on Wednesday were also informed by Éamon O Cuív, Minister for Social Protection, that the Government had agreed to expedite the proposal to move to a “new” defined benefit pension model as outlined in the National Pensions Framework.