Irish may have to work into their 70s

IRISH workers may be forced to work until their 70s to secure proper pensions, it emerged yesterday at the Annual UK and Irish Pensions and Investing Summit organised by the Irish Association of Pension Funds (IAPF).

The chairman of the European Federation for Retirement Provision Alan Pickering said we are "deluding ourselves" if they believed that additional saving alone would fully compensate for the good news of increased life expectancy.

"The Turner Report issued last week in the UK which found that people must be forced to work until they are 70 or pay an additional €83 billion in taxes is a wake up call not just for the UK but for all European countries including Ireland," Mr Pickering said.