Minister for Public Expenditure and Reform, Brendan Howlin has announced the creation of an Interdepartmental Group to examine retirement age issues. Demographic trends indicate that the number of people aged 65 and older in Ireland will increase dramatically in the coming decades.
Commenting on the announcement of the Interdepartmental Group, Ian Talbot, Chief Executive Chambers Ireland said: “The establishment of this Working Group is a necessary step as Ireland begins to address the challenges posed by changing demographics. It is a reality that in the future working lives will need to be extended as funding of pension schemes becomes more challenging. The problem of a lack of adequate pension provision amongst private sector workers in Ireland will require a coordinated approach to resolve, and this approach must involve the cooperation of the public and private sectors”.
Madeleine Quirke, CEO Wexford Chamber said “We would welcome the opportunity for private sector engagement in this process in advance of the Group’s report.”