Search Results for 'Pension'

Retiring politicians will reap a massive €10 million in golden handshake payments, a level of taxpayers money that is “absolutely shocking”.

While the campaign to stop any cuts for pensions proved successful in the four year recovery plan, Age Action has expressed its disappointment that the Government has ‘agreed to freeze the rate of the State pension until 2015, as part of the bailout deal it has reached with the IMF and the EU’.

Recent analysis by European insurer Aviva has shown that people in Mayo need to save an additional €9,100 a year to live adequately in retirement. Mayo’s annual pensions savings gap, the difference between what is currently being saved and expectations for retirement, stands at €550 million, the equivalent of an average €758 per capita per month of working age or €9,100 a year. These are among the findings of a comprehensive analysis of Ireland’s retirement landscape to date by the company.

Dear Editor,

Research conducted for AIB by RED C Research shows that 73 per cent of adults without a private pension say they would need to supplement the state pension to maintain their current lifestyle, while 54 per cent of adults who are saving for a private pension have no idea what income this is likely to provide.

Mayo consumers are saving more than ever and are now looking for new ways to shore up their money for the long-term, according to Tony Raftery, manager of Acorn Life in Mayo.

With the 65 years of age cut-off point long associated with retirement now being called more into question as people continue to live and work longer, a new definition is now being sought for retirement. According to research presented this week at the Retirement Planning Council of Ireland Conference at the Aviva Stadium in Dublin, four out of 10 people coming up to retirement have now expressed a desire to continue working after they leave their current job, whether for money or as volunteers. RPCI CEO John Higgins has now called for a new way to define the concept of retirement in terms, not just of economic gain, but also for social gain.

Talk of cuts in the State pension must stop now according to Age Action which has described the weekly payment as a vital buffer protecting older people from poverty.

The author of the Government commissioned An Bord Snip report has suggested that a general tax of €1,000 per head would be a fair approach in relation to property taxing in Ireland.

Retirement plans are changing radically as people no longer expect to put their feet up at 65 due to money constraints and simply because 65 is no longer deemed old.