Irish workers could be forced to pay 10% of wages in new pension scheme

Irish workers could be forced to pay 10% of their wages into a new pension scheme.

The OECD has warned the average pension is currently worth only a third of most people's earnings.

So the Government is planning to boost funds with compulsory payments.

Workers would be forced to start saving in their 20s and employees' contributions would be matched by employers.

File image.

KEYWORDS: Pension, Saving, Wages, OECD

 

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