A Quin retiree is predicting that the so-called ‘pension time-bomb’ will affect every generation unless drastic change is enacted.
The latest Global Retirement Reality Report shows that 46% of savers here said they were not optimistic about being financially prepared for retirement.
A new auto-enrollment pension scheme for 23 to 60 year-old’s is scheduled to begin in Ireland in 2024, however the current cost-of-living crisis could see some opt out in order to cope with financial pressures in the present.
CONTINUE READING BELOW
Eugene Philips is a digital ambassador with Active Retirement Ireland and says problems are going to remain indefinitely unless the dependence on the state contributory pension is addressed.
Listen back to the full interview here:
