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No jobs for the young as the old forced to work longer

4 March, 2010 - by Aengus Ó Snodaigh TD

Sinn Fein spokesperson on Special and Family Affairs Aengus Ó Snodaigh has hit out at the Government’s pensions framework announced yesterday saying the plan to increase the qualification age for the pension in four years time would exasperate the problem of youth unemployment and emigration as older workers would be forced to stay in the workforce longer.

Ó Snodaigh said:

“The government’s pension framework outline yesterday makes little sense. Sinn Féin has long been critical of the degree to which government has been subsidising private pensions particularly for the wealthy.

“We warned, going back to 2006, that pension funds into which people were being encouraged to put their money were not secure and that it was quite likely that in the end if and when these funds collapsed the state would end up supporting those left with no pension incomes.

“The qualification age for the state pension is set to rise by a year in four years time. This makes little sense. We have over 430,000 people out of work at the moment and no strategy from the government to create jobs.

“Youth unemployment is soaring with one in three men under 25 now out of work. Young people are emigrating. There is little chance this problem will be sorted within the next four years.

“By increasing the pension age in 2014 there will be even less employment opportunities for young people as older workers are forced to stay on in employment. If young people are forced to emigrate it will become even harder for the state to meet its pension obligations in future years. This simply makes no sense and should not be implemented.” ENDS

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