Government bids to defuse pensions timebomb

IF you don’t have a pension, if you haven’t stayed with one employer for your entire working life and if your eyes glaze over at the thought of worrying about the minutiae of pension schemes, then rest assured you’re normal.

Around half the workforce don't have a pension. A measly 1% claim to know much about the various pension products out there. And, most worryingly, around 70% of those over the age of 30 will not be able to maintain their standard of living once they retire unless they get extra pension cover.

By this stage you should be able to hear the faint sound of an alarm bell clanging in the distance. Throw into the mix the fact Ireland's population profile is set to age dramatically over the next few decades, which will place all kinds of pressure on the welfare system and public purse, and you can hear the insistent din of alarm bells growing ever louder. It's not too late to do something about it.