The OECD has given its strongest indication yet that it will recommend the introduction of auto-enrolment in its forthcoming review of the Irish pension system.
Edward Whitehouse, head of pension policy analysis at the OECD, said the OECD's view was that auto-enrolment was the "sensible third way" between compulsion and a voluntary pension system. Whitehouse, discussed a number of issues at the IAPF event, noting that the country's partially funded state pension system was no longer "financially sustainable".
Discussing the country's agreed pension age increase to 68, he added: "It makes sense for Ireland that, once 68 is reached, further increases in the pension age are legislated, which would link that to life expectancy." However, Whitehouse previously warned that such automatic mechanisms were only of use if the government of the day stood by the changes it triggered.
The OECD is expected to submit its report to the government towards the end of the year, with a final version being released in January 2013.
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