Madam, – There were two stories (Home News and Business Today, June 23rd) which were strongly linked.
On page eight you detailed the EU survey which found that 27 per cent of Irish respondents found it more difficult to afford long-term care for family members. The older the respondent, the more likely they were to feel it had become harder to afford general healthcare and long-term care for themselves or their family.
Flick to page 17 and we learnt from the Pensions Board that three-quarters of defined benefit pension schemes are in deficit.
The link? The State pension. All of us need certainty for the future – especially when it comes to income. Judging by the performance in recent years of pension funds, as well as shares, property and other forms of investment, there is little certainty when it comes to retirement income.
If we are to keep people out of poverty when they retire and give them some certainty when it comes to income, we need a properly funded State pension scheme. This pension must be sufficient to enable pensioners to live with dignity. In the light of what we learnt yesterday, this point must be highlighted as the Government plans for Budget 2011. – Yours, etc,