Just 50% of workers have a pension

IRELAND’S pension time bomb continues to tick with latest figures revealing just one in two workers have a pension.

According to the latest national quarterly household survey issued by the Central Statistics Office (CSO) for the last quarter of 2009, the number of workers with a pension across all age groups had slumped to 51%. This is a drop from 56% for the same period in 2005.

Pension coverage continues to remain lowest among young workers with just one in every five workers (19%) aged between 20 and 24 having a pension.