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Fri 12 Dec 2008How safe is your pension?
Government attempts to soothe worries about the 'hole' in pension funds have only added to the confusion, writes Dominic Coyle
PENSIONS ARE big news this week . . . but for all the wrong reasons. A leaked memo to Cabinet from the Department of Social and Family Affairs warns of a hole of between €20 billion and €30 billion in pension funds. It states that some high-profile funds could fail and that more than 90 per cent of private pension funds will this year fail to meet the funding standard required of them by the regulator, the Pensions Board.
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