Irish Government to develop "comprehensive scheme to drive up pensions coverage"

Issued : 7 March 2014

The former Director of the European Consumers Organisation, Jim Murray, is to head the Republic's Pensions Council, a new body tasked with reforming the Irish pension system in the interest of the consumer.

The council, consisting of up to 12 members, is being launched as part of a major reform of the Irish regulatory system, under which the Pensions Board is being rebranded as the Pensions Authority with its Chief Executive, Brendan Kennedy occupying the retitled role of Pensions Regulator.

The Irish Government is also to publish plans in the near future for “a new and comprehensive scheme to drive up pensions coverage.” according to Social Protection Minister, Joan Burton. She said that the plan would set out how the introduction of the new MySaver scheme would depend on pre-set economic targets being met.