Raising taxes not the only solution to 'pensions timebomb', Oireachtas committee told

Irish citizens need to upskill to deal with changes the economy will experience as the workforce ages into retirement, experts have warned. File Picture: iStock

Preparing for Ireland’s pensions timebomb does not necessarily mean raising taxes, but whatever changes are to be made need to happen now, an Oireachtas committee has heard.

The budget oversight committee has heard from representatives of various think tanks regarding the looming black hole for Ireland’s public finances, with the overriding message that Irish citizens need to upskill in order to be prepared for the changes that the economy will experience as the workforce ages into retirement.