Government aims to offset pension investment losses

The Minister for Social Affairs has today announced a relaxation of some of the rules governing defined-benefit pension schemes.

The Minister for Social Affairs has today announced a relaxation of some of the rules governing defined-benefit pension schemes.

Mary Hanafin says the move is a bid to offset investment losses suffered by such schemes because of the world recession.

The changes will allow longer-term recovery plans to be put in place for the schemes than is currently allowed.

More than 230,000 workers in Ireland have defined-benefit schemes.

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