Workers face smaller pensions than expected at retirement

Typical pension contributions in private sector firms are now so low that employees face a retirement of poverty, with women hardest hit.

15th June, 2014

Typical pension contributions in private sector firms are now so low that employees face a retirement of poverty, with women hardest hit.

Some – if they start saving late – will be lucky to have €50 or €75 a week in occupational pensions when they retire (see table).

Total average weekly pension contributions – as calculated by the Irish Association of Pension Funds – are now at 11.1 per cent of pay, with employers paying...

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