Wednesday, October 31, 2007

€327 doesn’t buy you many pints of Guinness

Research in the Green Paper on pensions, issued by the Irish Government, found that the average net income for pensioners in 2005 was €327. The average weekly income for all households was more than double this at €776. Less than half.

Allied Irish Bank has done its own research that concludes that over 50% of the 50-plus has no private pension and will be forced to rely on the State to pay for their retirement.

These dreadful figures are not that much different from the UK. So much for a land of affluent Baby Boomers. Dick Stroud

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