Ireland bottom of EU league for pensions spend

IRELAND is spending less on pensions as a percentage of gross domestic product (GDP) than any other country in the EU.

New figures show that expenditure by the Government on pensions has been falling continuously over the past decade at the fastest rate within the EU.

Ireland allocates just 3.6% of its GDP on pensions - less than a third of the EU-15 average of 12.6%.