Contributions warning over Irish pensions

Rising life expectancy and poor investment returns mean pension benefits from defined-contribution pension schemes will be less than expected unless contributions are raised.

12th February, 2012

The combined effect of increasing life expectancy, lower interest rates and poor investment returns mean pension benefits from defined-contribution pension schemes will be less than expected unless contributions are increased, according to consultancy firm Mercer.

Defined-contribution pension schemes face many similar problems to defined benefit pension schemes, and are equally in need of review, according to Mercer.

However, according to the company's analysis, defined-benefit plans promise a specific level of benefit, so have been forced...

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