Irish Pensions Board 2008 Annual Report: Minister on 3 public sector pensions rules out private pensions protection scheme
Jun 22nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The 2008 annual report of the 17-person strong Irish Pensions Board was today launched by the Minister for Social and Family Affairs, Mary Hanafin TD. Hanafin who is building credits for 3 public sector pensions - - as a minister, TD and teacher on 12-years leave - - emphasised the serious losses sustained by both defined benefit and defined contribution schemes in 2008. The minister effectively ruled out any hope of the Government establishing a pensions protection scheme. She said that such a scheme had proved very expensive in the UK.