Fiscal Council calls for additional levy on baby boomers for pension fund

By 2050, the number of people reaching retirement will be 50% higher than it is now. Photo Credit Joe Giddens/PA Wire

The Irish Advisory Fiscal Council has called for additional PRSI contributions to be levied on baby boomers while they are working to ensure younger people are not financing older generations' retirements.

This is part of a proposed overhaul of the pension system in Ireland which would see the establishment of a State Pension Fund that would help address the increasing pressure that the current system will come under in the next decade.