The pensions problem: who will pay for our next rainy day?

The social insurance fund was running out of money even before it was used to pay for the Pandemic Unemployment Payment – but raising the pension age is an issue few parties want to confront

When the contributory state pension was first introduced in 1961, workers had to be 70 years old to get it. The average life expectancy was 68 years for men and 70 years for women. Picture: Fergal Phillips