In Short

A round-up of today's other stories in brief.

Employers get reassurance on pensions

Mandatory pensions in which only employees and not their employers have to contribute will not push up labour costs, according to Pensions Board chairman, Tiarnan O'Mahoney.

He said employers believed that even if only employees were obliged to fund a pension, it would lead to increased labour costs, but the experience with Special Savings Incentive Accounts (SSIAs) did not support this.

"As thousands of people were investing in attractive SSIA accounts, they were not demanding more pay to do so, but rather postponed expenditure because they saw this very attractive opportunity to increase their wealth through savings supported by Government subsidy," he said.

Mandatory scheme proposals should be mindful of the Republic's job competitiveness, he added.

Fans urged to bring health card

The European Consumer Centre (ECC) is advising football fans who are travelling to the World Cup in Germany this summer to bring a European Health Insurance Card (Ehic).

The Ehic, which can be applied for through local health authorities and at www.ehic.ie, covers people for emergency medical care in EU states and certain other European countries. In Germany, cardholders must pay €10 to visit a doctor, but the rest of the cost is covered by the Ehic. The card should also be presented on admittance to hospital in an emergency.

A guide on transport, accommodation, shopping and healthcare in Germany for Irish people attending the World Cup is available at www.eccdublin.ie.

AIB cuts rates for personal loans

AIB is to offer personal loans with variable interest rates as low as 6.99 per cent on loans of €25,000 or more from May 22nd, the lowest rate in the market for unsecured loans of this size.

On loans of between €10,000 and €25,000, the annual percentage rate (APR) will be 7.49 per cent, while people borrowing €5,000-€10,000 will be charged 8.99 per cent APR. The rate offered on loans of less than €5,000 remains unchanged at 10.33 per cent.

Meanwhile, Dutch online bank Rabodirect is considering adding personal loans to its range of products later this year.

Quinn Life offers new online service

Quinn Life has introduced an online service that allows its customers to check the value of their investment policies, switch funds and change their premiums.

The "My Quinn Life" service, available at www.quinn-life.com, also allows potential customers to get online quotes for Quinn Life products.

Pension warning for young people

Property alone will not solve the pension crisis, Canada Life managing director Tom Barry has said.

Speaking at a conference in Dublin earlier this week, Mr Barry said young people were concentrating on buying property rather than providing for retirement.

"While it is clearly a key asset in creating wealth, people must think about their future in a far broader way. "