90% of private pensions in deficit - Hanafin

Updated: 16:13, Thursday, 5 March 2009

Minister for Social and Family Affairs Mary Hanafin has told the Dáil that up to 90% of private sector defined benefit pension schemes are in deficit.

1 of 1Mary Hanafin - Scope for further pensions regulation
Mary Hanafin - Scope for further pensions regulation

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Responding to a question from Labour Party TD Roisin Shortall, Mary Hanafin estimated that the deficit could be as high as €30bn.

The minister said the pensions' area is well regulated but she could see scope for further regulation.

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