Irish Examiner view: PRSI hikes needed to fund future pensions

Government right to consider action but sums raised must be ringfenced, not siphoned off for politically-convenient purposes

By 2050 there will be just under two people of working age for every retired person in the State. Picture: PA

If there is no desire to increase the age at which most people can take their pension — and the lack of political enthusiasm for this is palpable — then there is no obvious alternative to future funding than to raise contributions to pay for forthcoming benefits.

The mathematics behind this — the ratio between
taxpayers and retirees — are unforgiving and inexorable and cannot be dodged.