A pensions time bomb nobody will defuse

Pensions are a time bomb that everybody knows is ticking away, but few seem willing to defuse.

Most politicians have over the years been happy to hope that when it does explode they will be long gone from the scene.

Irish private pension funds have had a good year. This comes on the back of several horrible years. The year was good not just in terms of returns, 27% over the last four years or 6% per annum. It was also good in terms of inflows.