Implications for public policy

Abstract

The Department of Social Welfare and the Pensions Board commissioned the ESRI to undertake a national survey of pension coverage in 1995. The survey shows that only half of all employees at work are covered by an occupational pension scheme (see Hughes and Whelan (1996)). Despite the considerable efforts of the pensions industry to promote occupational pensions the survey indicates that pension coverage is not increasing. However, the quality of occupational pension provision has undoubtedly improved over the years as the amount of income replaced by occupational pension benefits has risen. At the publication of the ESRI report last Autumn the Minister for Social Welfare launched a National Pensions Policy Initiative to promote debate on pensions issues and on how best to increase coverage of income-related pensions. Stage I of this initiative has now been completed with the issuing last month by the Department and the Board of a Consultation Document (Department of Social Welfare, 1997).