Casey: Ireland could face pension crisis

IRELAND is less exposed to the global credit crunch than other jurisdictions but the country could be facing a pension crisis.

This is according to the chairman of Financial Services Ireland, Denis Casey, who said the disruption of the international credit market presents new challenges for all involved in financial services.

“While conditions are more testing than they have been for some time, we should be measured in our assessment for the next 12 months. Ireland’s risk-based approach to regulation and our focus on capital adequacy is serving us well through the current testing conditions.