Sports stars wanted - to promote pensions

The Government is looking for high-profile in-their-prime sports stars - to highlight the benefits of looking ahead to a pension.

Social and Family Affairs Minister Mary Coughlan wants the sporting heroes of today to join in a major campaign to increase pension cover for tomorrow.

They will form part of a Pensions Awareness Week, being launched at a cost of €500,000 next month.

The aim will be to boost overall pension cover, currently standing at around 50% nationwide, to the 70% mark.

Ms Coughlan made her move on the eve of tomorrow's deadline for all bosses to give employees currently not able to be part of company pensions schemes, access to the Irish government’s Personal Retirement Savings Accounts.

The PRSAs have been designed to simplify matters for workers who want to ensure themselves of a pension after retirement, but response is reported to have been sluggish during the opening months of the year, before picking up in recent weeks.

Now Ms Coughlan’s department is sponsoring an intensive bid, mounted by the Irish Pensions Board, to bring home the benefits of planning for the often far-distant future.

A source close to the minister said top-flight sports figures were being recruited because of their broad general appeal.

The source added: “Ms Coughlan has clearly stated she wants to see an increase in pensions cover to the target of 70%.

“Since the minister signed the PRSA regulations, there has been increased activity in that particular sector and the minister’s hope is the campaign will result in a higher awareness of the importance of planning for retirement.”

The probability is that GAA stars – like those on parade in this weekend’s All-Ireland Hurling final between Cork and Kilkenny in Croke Park - will be approached to take part in the campaign, as well as famous figures in the soccer and golfing arenas.