Pension crisis - Inaction is inexplicable

We return once again today, on the opposite page, to the looming pension crisis.

This has been a live issue for nearly a decade but no significant, encouraging action has been initiated by any government to confront the issue. Nothing has been done to bolster one of the basic tenets of the social contract that has sustained Western democracies for over a century — the prospect of an adequate income in old age as long as you fund it throughout you working life.

For tens of thousands of workers, especially in the private sector, that contract has been ruthlessly betrayed.

In a few months’ time, another round of budget cuts will be introduced. These might be made more palatable if Government moved against the sword hanging over tens of thousands of Irish families by trying to resolve this issue that just won’t fix itself. As we’ve said before, a minister for pensions would be a good start.

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