50% cut to State pension ‘inevitable’

Cuts of up to 50% to the real value of the State’s old-age pension are inevitable, according to research by the Trusted Advisor Group.

The Department of Social Protection is currently awaiting the publication of an OECD review on Irish State pensions. The department plans to base its future pensions policy around the report.

A spokesperson for the department said savings had to be found within the social welfare system.