There has been mixed reaction to the the Pension Board's national pensions review.
The group representing the interests of older people, Age Action Ireland, said it would help focus the Government's and the public's attention on the "vital need to buttress financial provision for Ireland's future older people"
Describing the report as "a good basis for discussion" the group said it was "horrendous" that only about half of Irish workers have an occupational pension.
"Adequate pensions are vital to ensure a comfortable older age," the statement added.
Green Party social affairs spokesman Dan Boyle said some proposals such as matching contributions for PRSAs and incentives for SSIA holders to invest in pensions could potentially increase the likelihood of pensions inequality.
"This is surely not the policy direction that should be taken," he said.
"We have a State pension provision running at less that one third of average income in this country, a level which is one of the lowest in Europe. Surely the point of a pension review should be to concentrate the debate on bringing forward recommendations on State pension provision rather then suggesting how the State's money should subsidise private pension provision," he added.
The financial sector gave the report a warmer welcome as the recommendation may finally provide the catalyst for growth in the potentially lucrative private pensions market.
Irish Life welcomed proposals by the Pensions Board to introduce an SSIA-style incentive to encourage greater demand for pensions.
Dervla Tomlin, head of marketing with Irish Life, said; "Our research found that as things stand just 9 per cent of people with no pension provisions indicated that they were extremely likely to start a pension this year.
"However when we suggested that the Government move from the current tax arrangement to an SSIA style Government payment - with the Government contributing €1 for every €1 contributed by the individual - the figure shot up to 36 per cent," she said.
"That's a four-fold increase in people who would describe themselves as 'extremely' likely to start a pension this year.
"The research demonstrates that while the current tax regime is very favourably disposed towards pensions, people simply don't understand it. What people want is a clear, simple and transparent way of rewarding those who save for their retirement," Ms Tomlin added.
The Irish Insurance Federation (IIF) gave a broad welcome to the report. Mike Kemp, IIF's said: "While we welcome the fact that the Pensions Board has taken into consideration many of the recommendations the Irish Insurance Federation proposed, we are concerned that there is no indication from the Minister as to if and when these recommendations will actually be implemented." "Over the next few decades our over 65s will increase from 11% to 25% of the population. This doubling in the number of over 65s will have a dramatic impact on the cost of older people's services and funding for these services will have to be found." Chief Executive Mike Kemp said: "Given Ireland's current position of relative economic strength, now is the time for fundamental pension reform, and to use the Minister's own words, 'not when the issue has become a crisis.'"
"Postponing difficult decisions is at best delaying the inevitable. At worst it is abdicating responsibility and passing the problem onto the next generation," he added.
In a statement Mercer HR Consulting also welcomed the recommendations from National Pensions Review Continued.
However, the company also urged the Minister to look at all options.
"Mercer would urge the Minister to ensure that changes to pension schemes to improve their attractiveness apply equally to different types of pension schemes, rather than serving to promote PRSAs only, which are widely seen so far as a failed initiative of the Pensions Board," the statement said.