Hundreds of thousands of people in Ireland could end up on the poverty line in old age unless they sort out private pensions while they’re still working. That’s the warning from the Fine Gael MEP Brian Hayes. He’s just been appointed as a lead negotiator for a new EU initiative called the Pan-European Personal Pension Plan. The idea of the European Commission proposal is to enable people to have a simple and cost-effective retirement plan which would be portable across EU countries. Brian Hayes explains.
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