Michael Clifford: Age-old issue of pensions hasn't gone away

There are five people working for every one who is aged over 65. By 2051, this ratio will be down to 2.5 to one, with the number of over-65s set to rise to 1.6m

Sinn Féin leader Mary Lou McDonald made a passionate plea for those who wish to receive a pension at 65, who had 'worked hard, paid their way, paid their bills'. Picture: Gareth Chaney

In the long run, we’re all dead. Hopefully, along the way, we can do a few things to ensure that the place is still ticking over after we depart the stage.

Sorry for starting on such a morbid note, but the long run raised its head this week in the form of pensions and populism. These two are not a good match. Pensions, as we know them, are one of those things that, in the absence of drastic change, will, in years to come, be regarded as fond relics of a bygone age. The demographics of the wealthy western world are such that it will soon be impossible for those working to support retirees in the manner to which we have become accustomed.