Private pensions are not mandatory, writes Gerry Scully, but given we all hope to one day collect the president’s bounty and to live well while waiting for that happy event private pensions are a necessity.
Yesterday’s budget did very little for tens of thousands of pensioners losing as much as €1,500 a year for taking time out of the workforce to care for their families. They won’t even get the five euro they read about in yesterday’s paper.
Fair Deal is the Government scheme which allows people to put the value of their own home against nursing home care. With a large ageing population in Ireland, the Fair Deal scheme is an incredibly relevant and important topic.
“I cannot afford either life or home insurance,” she wrote. “I have to go to bed early to save on heating and electricity. My husband passed away last year and I still have not paid off his funeral expenses. We did have life insurance but they cut it because we couldn’t keep up the payments.”