Pensions in crisis - It’s time for a national scheme

Once upon a time, you could get rid of an unwelcome visitor to your home by asking them to stay and join the family rosary.

Today’s version of that ruse is to talk about pensions — those vague, distressing, expensive, collapsing, and socially divisive essentials.

Maybe that is why Irish pensions, outside the public sector of course, are such a jumble of under-funded, more or less bankrupt — or if you’re lucky, just-hanging-on — constructs. Maybe that is why so many people neglect the inevitable need for a pension and don’t join a scheme. The level of uptake amongst low-paid workers and women stands below 50%. Even in these uncertain times, that seems reckless.