There is currently much justified political commentary about our current, and growing, pension crisis. I say ‘political commentary’ because, while the matter is political in every respect, the discussion avoids the political ‘hot potato’ issues that underpin the crisis in the same way that Irish political commentary generally ignores most inconvenient truths. The inconvenient truth this time?
The labour and housing markets are both deliberately designed and constructed in a manner that can only perpetuate and grow a pension crisis.
The easy elements that make up the crisis are routinely discussed in a circular fashion that takes the issue nowhere. For example, many people quite rationally expect their state pension at age 65 and righteously oppose the age increases that have taken place. Moreover, the full pension (which not everyone gets) of €12,912 may be ‘generous’ by international standards, but it’s not that much over half of what a full time worker gets on the minimum wage (€20,685). How comfortable are the lives of our massive band of minimum-waged workers? Not very.
Continue reading “Perpetuating the pension crisis: Inconvenient truths”
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