Will the private pensions industry survive?
Both private and public pension systems have come under great strain during the current economic and fiscal crisis facing the country. Pension tax reliefs are targeted in the Government’s 4 Year Plan to produce annualised tax savings of nearly €1bn pa, by 2014.
Both DB and DC schemes have suffered from poor investment returns. Can the country sustain the current Social Welfare pensions?
Is the private pensions industry now a closed book of business or can it survive and grow, at a time when it is needed most?
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