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Thread: Pensions, Pensions, Pensions .. OECD Report

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    Default Pensions, Pensions, Pensions .. OECD Report

    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/ne...ion-review.pdf )
    Last edited by robut; 22nd April 2013 at 05:12 PM.

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    Politics.ie Member Howya's Avatar
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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).
    “Still paying, still to owe. Eternal woe! ” ― Paradise Lost, John Milton

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    Politics.ie Member Ren84's Avatar
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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.

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    Politics.ie Member Upper Chamber's Avatar
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    If pensions are so important why are the government stealing .6% of mine every year?

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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.

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    Politics.ie Member Dreaded_Estate's Avatar
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    Quote Originally Posted by Howya View Post
    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.

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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.

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    Quote Originally Posted by Fractional Reserve View Post
    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.

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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!

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    Quote Originally Posted by SKELLY View Post
    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.

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