Problems for pension funds

Madam, - Fergus Whelan's contribution in last Friday's Business section, "Actuaries Wide of the Mark", is a well argued and lucid…

Madam, - Fergus Whelan's contribution in last Friday's Business section, "Actuaries Wide of the Mark", is a well argued and lucid contribution to the debate on pension provision. It unmasks what is clearly an ideologically driven campaign to privatise pension rights for workers and undermine social solidarity.

However, it is somewhat disappointing that one of the remedies he offers for artificial crisis is his that "we could also design an immigration policy to promote opportunities for young, fit and willing workers from outside the EU to help increase our GNP".

What happens to the old and no-so-old population of these countries denuded of their vibrant labour force? Ironically, what Mr Whelan's argument means is that our security in retirement would be based on the increased impoverishment of elderly persons in less developed parts of the world.

The onus for pension provision - and indeed social policy for the care of the elderly in general - should be focused on the groups in western society that promote greed and self-interest, rather than the common good. - Yours, etc.,

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SEAN WHELAN, Nenagh, Co Tipperary.