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Pensions, Pensions, Pensions .. OECD Report


robut

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Workers should be forced to pay into pensions, says OECD - The Irish Times - Mon, Apr 22, 2013

OECD report recommends mandatory pensions for private workers

OECD proposals to alter public service pensions - Irish News, World News & More | The Irish Times - Sat, Apr 20, 2013

The OECD recommending big changes to Irish pensions both private and Public. Report to be published next week by government.

The Paris -based OECD was commissioned by the Coalition to make recommendations on dealing with the difficulties facing the pension sector in Ireland.
The report is expected to suggest, in effect, that the Coalition should consider transferring serving staff below a certain age or level of service into a pension scheme effective since last summer for personnel recruited after that point.
The OECD Review of the Irish Pension System says that the best options would be either a universal basic pension or a means-tested basic pension.
The OECD also recommends raising the retirement age to reflect the fact that people are living longer.
A MAJOR REPORT commissioned by the Department of Social Protection has outlined recommendations which may lead to mandatory pension plans for private sector workers.
My one big question - Is the state old age pension being lined up to go the way of the DoDo?

The way private pensions have been performing since crash and recent times - particularly due to large fees and costs being stripped from them PLUS the complexities that even some fund managers dont understand - Shouldnt we be over hauling the whole private pension structure first?


( http://static.rasset.ie/documents/news/oecd-pension-review.pdf )
 
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Howya

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Of course private pension structures should be over hauled but right now they are an easy target for the government. Taxing private pension schemes now is much easier than thinking long term about incentivising the whole working population to save for retirement (and yes the state pension will likely be eroded over the years as the cost becomes too prohibitive).
 

Ren84

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Why not simply do away with all private pensions and have one large state pension for all? Increase employee contributions into the pension pot and turn the whole thing into a sovereign wealth fund, you know, like what the NPRF was supposed to have been before FFailure raided it to bail out the banks.
 

Upper Chamber

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If pensions are so important why are the government stealing .6% of mine every year?
 

Dreaded_Estate

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Of course private pension structures should be over hauled but right now they are an easy target for the government. Taxing private pension schemes now is much easier than thinking long term about incentivising the whole working population to save for retirement (and yes the state pension will likely be eroded over the years as the cost becomes too prohibitive).
Pensions are already pretty well incentivised, contributions are made out of gross rather than net pay.
 

Fractional Reserve

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Yehaww here they come with their money grab watch them grab the private pensions (for your own safety !!!! ) .I heard Joany on the Matt Cooper show , she is another econmoic illiterate educated moron she thinks the recession is over !!! , she wants global taxation,s etc etc .The world is f88ked the Western welfare state governments are all broke and on the money hunt , the marxist are going to go to town on any thing or one making a few lids .They are destorying there own economies and cannot even see the stupid f88ks.
 

devoutcapitalist

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Yehaww here they come with their money grab watch them grab the private pensions (for your own safety !!!! ) .I heard Joany on the Matt Cooper show , she is another econmoic illiterate educated moron she thinks the recession is over !!! , she wants global taxation,s etc etc .The world is f88ked the Western welfare state governments are all broke and on the money hunt , the marxist are going to go to town on any thing or one making a few lids .They are destorying there own economies and cannot even see the stupid f88ks.
Burton is economically illiterate like all left wingers.
 

SKELLY

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watch how they let the current state pension rot away now for the next 50 years.

when they bring this in there will be no reason to even keep the state pension in line with inflation.

It was also quite shocking to hear Burton say that the recession was nearly over!
 

devoutcapitalist

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watch how they let the current state pension rot away now for the next 50 years.

when they bring this in there will be no reason to even keep the state pension in line with inflation.
The state pension massively increased above inflation when FF were in government from 1997 till 2009 so that FF could buy the grey vote. This was at a time when the percentage of elderly people was increasing gradually as a percentage of the population. Another example of FF financial illiteracy.

In 2007 all our numbskull politicial parties were proposing to increase the OAP to at least €300 per week. Braindead populism at its worse.
 

R3volution_R3ady

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Why not simply do away with all private pensions and have one large state pension for all? Increase employee contributions into the pension pot and turn the whole thing into a sovereign wealth fund, you know, like what the NPRF was supposed to have been before FFailure raided it to bail out the banks.
How about we just do away with pension ponzi schemes altogether and let the people take care of their retirement?

But of course not, that would be the sensible thing to do.
 

Expatriot

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I'm 30 years years of age I can see myself working well into my early 70's. Get used to it.
You wont be allowed to work into your 70s in most jobs as you would be totally useless.

Our pensions were given to the banks. More will be given again. All State funded pensions are for the chop as the State is effectively almost bankrupt. PS employees are now funding the entire cost of current PS pensions, the same willl follow for all State pensions as there is no other pension fund any more.
 

Prester Jim

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I'm a realist unlike yourself, I don't expect there to be a state pension in 40 years time. What age are you BTW?
I would expect any devout capitalist to expect to gain significant benefits from utilising the freedom to grow rich capitalism affords.
So how come you are expecting to be a low paid working schlub till your 70s?

I think that may be what freddiefly means?
 

devoutcapitalist

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You wont be allowed to work into your 70s in most jobs as you would be totally useless.

Our pensions were given to the banks. More will be given again. All State funded pensions are for the chop as the State is effectively almost bankrupt. PS employees are now funding the entire cost of current PS pensions, the same willl follow for all State pensions as there is no other pension fund any more.
Well public health is going to have be drastcially improved amongst the Irish population in the next few decades as people will be expected to work till they are at least 68 and probably beyond 70. Yep my employment contract states that I'll be retiring at 65 in the year 2048.
 

devoutcapitalist

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I would expect any devout capitalist to expect to gain significant benefits from utilising the freedom to grow rich capitalism affords.
So how come you are expecting to be a low paid working schlub till your 70s?

I think that may be what freddiefly means?
I'm not in a low paid job in what I presently do at the moment. If I'm a wealthy man by my 60's I'll happily retire at 68.
 

robut

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... PS employees are now funding the entire cost of current PS pensions, the same willl follow for all State pensions as there is no other pension fund any more.
HUH?

i dont think so? PS pensions are still coming from the central fund at retirement? The central fund is not invested for growth? It is what keeps the state running day to day? No way are PS employees funding entire cost of current PS pensions. The PS does not have an invested pension fund last I looked?

If the PS employee were actually funding entire cost of current PS pensions, believe me, they would individually be paying way more into it than they currently are ..
 

FakeViking

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If pensions are so important why are the government stealing .6% of mine every year?
I'm a lot more concerned about the Pension Industry helping themselves to mine to fund frequent golfing breaks in Portugal, perfectly legally of course.
 

Prester Jim

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I'm not in a low paid job in what I presently do at the moment. If I'm a wealthy man by my 60's I'll happily retire at 68.
But shouldn't you be striving valiantly to be rich?
Why are you not running your own business if you are a devout capitalist?
I am not being silly I would just expect someone who defines themselves (online anyway) by capitalism to be a capitalist rather then just a a worker.
To some it might seem kind of like being a devout catholic but being in a gay relationship and working as an abortionist.


Just so you know, a capitalist is someone of wealth who invests their capital in business.
You don't seem to be a capitalist at all.
 

Dreaded_Estate

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You wont be allowed to work into your 70s in most jobs as you would be totally useless.
You will be allowed in the future.
If you are under 30 then I doubt you will receive a state pension before th


PS employees are now funding the entire cost of current PS pensions, the same willl follow for all State pensions as there is no other pension fund any more.
They are covering the current cost of current PS pensions but the majority aren't covering the future cost of their own pension.
 
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