Almost €345m was saved in the first seven months of this year as part of the latest drive to crack down on welfare fraud, the Government stated today.

THE LAST week has seen an enormous outpouring of national introspection in relation to how we will get out of the economic mess.

The €1.9bn levy on private pension pots has been branded a tax on jobs and savings.

Minister for Social and Family Affairs Mary Hanafin has warned her government colleagues that tens of thousands of Irish pensions could be wiped out, as pension deficits could reach up to €30 billion.

THE National Pension Reserve Fund has appointed Hermes Equity Ownership Services to advise it on environment and corporate governance issues.

Wexford Credit Union has launched a new Pension PRSA (Personal Retirement Savings Account) service exclusively for its members.

THE Pensions Board has called on SSIA holders to address their pension provision with their SSIA savings.

SOCIAL Affairs Minister Seamus Brennan is considering the possibility of creating a new pensions system which would see everyone automatically entered into a pension scheme and given the chance of opting out.

PENSION fund managers had a strong third quarter with the average fund growing by 5.6%, according to industry figures published yesterday.

Ian Guider

MEASURES to encourage people to put money from special savings schemes into pensions have been called for by the Irish Association of Pension Funds (IAPF).

THE National Pension Reserve Fund lost 1.1% of its value between June and September.

The pensions ombudsman Mr Paul Kenny has received 163 complaints relating to the operation of pension schemes since the post was created in last April.

THE board of the National Pension Reserve Fund will meet later this month to discuss the possibility of sacking two of its fund managers.

OVER the last 10 years managed funds returns were well ahead of inflation, despite the stock market falls over the last three years, Irish Association of Pension Funds (IAPF) stressed yesterday .