Pensions Board begins campaign

A CAMPAIGN to encourage people to start a pension in the new year is underway by the Pensions Board.

Pensions Board head of information and training, Mary Hutch, said: “The new year is traditionally a time when people reflect on their personal finances and start to plan for the year ahead.

“Workers may have received bonuses or salary increases at this time of year and we would encourage them to review their pension provision, start a pension if they don’t already have one and for those who have a pension increase their contributions to an adequate level if necessary.”

The CSO pension coverage figures (2005) show that 62% of 30 — 65 year olds have a pension. That means that there are still 900,000 people currently working who will have nothing but their State pension to live on in retirement.