Leo Varadkar endorses pensions shake-up

Plans endorsed by Social Protection Minister Leo Varadkar for reform of the pensions industry have been welcomed by the pensions industry.

Mr Varadkar said he favoured proposals by the Pensions Authority that aim “to reform and simplify supplementary private pension provision in Ireland”.

“The current situation where a majority of our citizens rely solely on the state pension in retirement is unsustainable and we have a duty to ensure that a better system is now put in place,” said Mr Varadkar.