The Government announced their plans for a flexible retirement age and for years now we've read or heard about the tick, tick, ticking of a pensions time-bomb. Then we witnessed Tánaiste Leo Varadkar, dismissing the expert Commission on Taxation, let's just say that many eyebrows were raised. A Government preaching for less taxation, while looking to extend the working life? Something doesn't add up.
Joining us to make sense of the convenient narrative is economist with NERI, Ciaran Nugent. He talks about the €8bn gap between Ireland and equivalent countries when it comes to collecting the taxes that should be pouring into the pension pot. We don't have a pension time-bomb. We have a failure to collect the taxes ordinarily payed by certain sectors of the economy.
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