Workers ‘staring at poverty in old age’

A substantial number of people, especially women, in the private sector have no occupational pension and are “staring at poverty in old age”, the annual conference of the country’s second biggest union, Fórsa, heard this morning.

The union’s national secretary Billy Hannigan said that since the 1990s, a large number of employers including very profitable companies “have simply walked away from their pension responsibilities”.

Fórsa welcomed Government proposals for a new three-way pension scheme for workers involving the employee, the employer, and the State — but said employers must pay more.