Pensions Authority aiming to simplify pension provision in new reform

A new consultation on pensions reform has been launched.

The Pensions Authority says it wants to reform and simplify private pension provision in Ireland.

Proposals can be submitted to the authority until October 3, 2016, and recommendations will then be sent to the Minister for Social Protection Leo Varadkar.

Mr Varadkar says the current provision of relying on the state pension is unsustainable and he sees a new universal workplace savings system as an essential objective while he is minister.