Cullen Launches National Pensions Action Plan

The purpose of the campaign is to increase awareness and understanding of pensions issues and to encourage people to make early and adequate provision for their pension needs in retirement.

During the campaign's National Pensions Action Week, which runs from from 1-7 May, the Pensions Board will focus pension awareness initiatives at target groups who are considered to have lower-than-average pensions coverage.

These groups include those employed in the hospitality and retail industries, members of the farming community, young people and international workers.

The Minister said: "Adequate pension provision is an important issue because of the changing nature of our society.

"We now live longer and we quite rightly have higher expectations about our quality of life.

"We currently have about six people working for every person aged over 65 years.

"However, by the year 2050, that ratio is projected to be about two people working for every person over 65

"Awareness of pensions issues has reached a high level but the challenge which now faces us is to translate that interest into actual pensions coverage.

"I would urge all workers to consider their pension needs, talk to their employer or provider and make satisfactory provision now for their retirement years."

"National Pensions Action Week is an opportune time to also remind people about the Government's consultation process which is underway on the pensions Green Paper," he continued.

"The Green Paper on Pensions is of relevance to anyone with an interest in the shape of Irish society in the decades ahead.

"It is important that we receive the views of not only representative organisations but also those of the general public, and I hope that as many people as possible will take the time to contribute."

The National Pensions Action Week will also involve an advertising and promotional campaign highlighting other employment sectors with low pension coverage including women, (who have lower coverage rates than men) and the target audience of 25 to 35 year olds.