A report published recently indicates that future Irish workers cannot be sure of receiving a State Pension in retirement.
The article and report published in the Irish Times claims that there is a significant danger that the Irish State pension is unsustainable. We all know that the State system is struggling to provide for its Citizens and the delay in providing a pension entitlement to the age 68 was the first in a number of measures designed to kick the problem down the road.
The next time you are reviewing your retirement plans try and see how much of a gap you have when you exclude the Old Age Pension and ask yourself the following questions:-
- How am I going to ensure that I have enough money in retirement to provide myself with a decent standard of living?
- What can I do now to ensure that I have a comfortable retirement?
- How can I protect myself and my dependents if the old age pension isn’t available?