Pressure mounts on pension funding
Central Statistics Office figures show that life expectancy at 65 is 15.4 years for males and 18.7 years for females - reflecting an 11% increase for males over the last six years.
In 2003 the board implemented provisions of the Social Welfare Act 2003 facilitating the return to full funding by pension schemes affected by the downturn in invested markets. The National Pensions Awareness Campaign 2003 heightened pensions awareness with the Pensions Board logging 7,713 inquiries with a 44% increase on 2002, according to the report presented to the Minister for Social and Family Affairs, Mary Coughlan.
