I respect your opinion Sarenco but the reality it the government took over 2 Billion from private pension funds ,i don’t remember people on the streets rioting like what would happen in other european countries .By the middle of this century the old age dependency ratio is projected to double from the current level to around 46%.
Is it remotely plausible that the State would be in a position to means-test such a high proportion of the population? It would be a logistical and political nightmare.
Failing to save for retirement out of a fear that you could lose a State benefit would be extremely foolish.
I personally know many intelligent people that won’t fund a pension for fear of it been raided or means tested in future , everyone knows we are heading for a pension crisis there is no chance I am putting money away as i strongly believe that the government will interfere with it . It can be argued that it is foolish to save for a pension in Ireland when the government have shown disregard for people’s private pensions.
You just have to look at housing , if your prudent in this country you end up paying for those that are not , a pension crisis is looming the ones that have saved will fund the ones that haven’t one way or another .