The 68 year old limit is magical thinking, the % of people who can physically or mentally work until that age will be in single digits
The 68 year old of the future will be in far better shape both mentally and physically and will have plenty to offer in the workplace.
Have you a link for that?
tell us something we dont know , the majority of current pensioners draw down far more than they ever put in to PRSI down the years yet the public perception is that most people on the state pension are on far less than they made in contributions
The financing of the current system is purely pay as you go, nothing to do with contributions but all about the structure of the work force. On that side Ireland is in a better position than most.
i was saying that contrary to public opinion , the majority of those currently in receipt of the state pension , did not make sufficient contributions down the years to warrant current receipts
I know that it has been posited before but I feel that the only realistic solution to this issue is a standard "opt out" pension fund for every employee who receives a wage/salary beyond a stated amount (say above the living wage). Those who opt out to be made fully aware of the consequences of doing this and advised that there will be no safety net available to them upon retirement.
i was saying that contrary to public opinion , the majority of those currently in receipt of the state pension , did not make sufficient contributions down the years to warrant current receipts , there has been a huge increase in the state pension since around 1997 and it wasnt touched during the recession since 2008
The average industrial wage is around €35k a year, yes?
That's €1,400 of PRSI per year from the employee and €3,800 from the employer.
€208,000 gets contributed over a 40 year career.
The pension is €12k a year, so 17 years before one is getting back more than one has put in.
The average industrial wage is around €35k a year, yes?
That's €1,400 of PRSI per year from the employee and €3,800 from the employer.
€208,000 gets contributed over a 40 year career.
The pension is €12k a year, so 17 years before one is getting back more than one has put in.
I don't believe that's the case at all. The 68 year old of the future will be in far better shape both mentally and physically and will have plenty to offer in the workplace.
The average industrial wage is around €35k a year, yes?
That's €1,400 of PRSI per year from the employee and €3,800 from the employer.
€208,000 gets contributed over a 40 year career.
The pension is €12k a year, so 17 years before one is getting back more than one has put in.
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