No plan to solve pensions time bomb until 2009

THE Government is unlikely to have a concrete plan to tackle the growing pension time bomb in place until early 2009, it emerged yesterday.

Its Green Paper on Pensions was launched yesterday by Taoiseach Bertie Ahern, Tánaiste Brian Cowen and Minister for Social Affairs Martin Cullen.

But despite the previous Minister, Seamus Brennan, talking for almost three years about the urgency of the situation, the paper offers no specific recommendation about how the Government should tackle the crisis.