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Not sure about that. I didn't get to it yesterday but we had the annual presentation. They of course said recent dip doesn't matter i the long term which I would think fine for few years but 10 years seems fairly long term to me - could be 1/3 or 1/4 of pension life.Quote:
Originally Posted by Dodge
Ireland hasn't the demographic problems of other countries, such as the UK.Quote:
Originally Posted by OneRedArmy
Underfunding of pension schemes goes back to the lack of regulation that has allowed that situation to develop. They're underfunded because companies haven't contributed enough, and some of the dodgy practices around control and investment of the monies in them.
Much as I am disillusioned with my defined contribution scheme at least I knwo what it is worth (or is not). Definied benefit schemes will always be under funded in a recession as company does not have the money (e.g. Banks) so will always be an issue if those companies collapse at that time. You also have the problem with retirees living longer & company might be much smaller now than was 20 years ago.
I read a suggestion recently that should be a proper state pension where everyone pays in from their wages so the more you pay the more you receive later. Apparently the Natonal Pension fund returns have been fair good. It would be cheaper to administer due to the economies of scale.
It wasn't doing too bad in the scheme of things, until the Government ploughed it into the Banks...Quote:
Originally Posted by pete
There should be a mandatory pension scheme for all workers, administered by the state.