The heavy cost of a public-sector pension
“The cost of buying pensions has doubled in the last year or two,” said one financial industry source familiar with the area.
“The cost of buying pensions has doubled in the last year or two,” said one financial industry source familiar with the area. “Annuity rates stand at 2.6 per cent – so if you go to Eagle Star or whoever, and say you have one million in your private pension account, they'll offer you an indexed €26,000 a year.”
This means that the cost of the pay rises in the public sector is...
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