Leo Varadkar seeks to tie state pension to rate of inflation

The state pension could be tied to the rate of inflation and the cost of living if Social Protection Minister Leo Varadkar pushes through plans for a universal retirement saving scheme.

The ageing population is also “endangering the retirement income” of those who rely on the state pension, and pension reform will be needed, the minister said.

The universal scheme would see all employees automatically enrolled into a pension scheme, and “individuals will have to make greater provision for their own retirement”, according to Mr Varadkar.