Pension funds - Blind faith is no longer sufficient

The Irish Association of Pension Funds (IAPF) was warned at its conference in Dublin that people are not paying enough attention to their pensions.

Too many people seem to have a blind confidence in their pension scheme just because they make regular contributions. They just assume the pension will be sufficient to meet their needs when they retire.

The 266,000 Irish people in defined contribution (DC) pension schemes should realise that they need to be saving between 15% and 20% of their salary. The losses following the recent market collapse should be a stark warning of the need to address the pensions issue.