Call for pensions to be available for home purchases

CONSUMERS should be able to draw down part of their pension before retirement to fund needs such as the purchase of a house.

This is according to the Irish Association of Pension Funds (IAPF) which said one of the biggest disincentives to pensions is that people have a fear of locking money away for long periods.

“Many of today’s generation find it hard to grasp the need to plan for something that may be 30 or 40 years away,” said IAPF chairman, Patrick Burke.