The GWU said today that the workers could not afford a mandatory private pension, as proposed yesterday by the Pension Reform Working Group.

In a statement, the union said it would not accept the imposition of such a mandatory pension to supplement government pensions. Changes, it insisted, had to be made by agreement.

The union also protested that the working group had published its report despite promising it prior consultation.

It said the current economic climate meant that such a second pillar pension could not be afforded, especially since families were heavily burdened by the high cost of living and the high prices of utilities.

The working group in its report said a mandatory private pension scheme targeted for people under 45 years of age should be introduced immediately since studies showed that the government pension would not be adequate in the future.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.