Bita sustained civil unrest might help out with it?
Fine Gael will literally spend billions so you can pay rent until you die instead of building accommodation the public can own.
They’re such lazy fuckers. Why don’t they get off their arses and actually try to solve the housing crisis through borrowing and building public housing. This is just more papering over the cracks. It’s shocking that this scheme isn’t being brought in to better people’s lives. It’s been brought in so we can continue to pay rent!
I swear, FF/FG need to destroyed in the next general election for any progress to be made. We’ve either had a FF or FG led government since 1959! They need to go. At this stage they don’t even deserve to be in opposition.
A pension scheme like this should always have been in place however the intention of it is terrifying. No mention of this being mandatory education in secondary school either. This is the sort of thing where education is desperately needed.
Ireland very much continuing down the road to the way the states operate with 401ks and ROTH accounts. Essentially nobody is coming to save you, there is no safety net, if you don’t save you’ll work until you die.
These fucking people…
Can we actually get some guarantees on pensions first? At the moment if my pension provider goes bust there is a big shrug, a “tough luck” and big fat 0.
i was gonna post about this too….. just when you think they might be about to help the ordinary joe the true reason for it comes out…. and lets be honest are we surprised
What a bunch of cunts. Hope they’ll burn in hell.
How very depressing. I hope to God I’ll be able to buy and pay off a mortgage even if it means my husband and I have to delay retiring.
I feel like the housing sh*tshow is almost an entirely separate issue to auto enrolment pension. Solving one won’t solve the other but both are urgently needed. I really hope the new pension scheme doesn’t attract this type of bad publicity, because it’s disingenuous. If you own your own home when you retire but have no pension then you are in poverty plain and simple. Clearly the situation is worse if you also don’t own a house but in both situations you aren’t going to actually get to retire friend.
The lack of understanding among the general public about how pensions (and taxes in general) work is astounding. If you’re earning a decent salary and able to afford it then you should try and have some type of pension to at least avail of some of the tax relief, it’s basically free money and I’d sacrifice any other form of saving to do it outside of a mortgage deposit and building a small emergency fund.
We should be demanding and expecting government to deliver both, not writing off a good idea simply because it doesn’t solve the housing crisis
Lol, we’re fucked.
By the time I get to “retirement age” there likely won’t even be a pension. People are having less kids than ever and can barely even afford basics like housing these days. We’re kicking an absolute enormous bomb down the road that’s going to explode at some point, be it 10 years, 20, 30 or however long. There going to be a significant number of people at some point who don’t have the means to sustain themselves in anything beyond poverty. All part of the plan I guess.
It seems like perverse reasoning but this is only until they find a way to bilk you out of your pension and hand it over to the megarich like they do with property.
Remember to vote for government parties next election.
This is depressing as fuck! Owning my own home is now not a reality for me even though I am in a “decent” job and its so depressing.
That happened in 20 years, despite the worst recession in almost a century, followed by an economic Lost Decade.
The idea of a ‘pension timebomb’ is based on the ratio of pensioners vs workers, which is set to grow 2x _in 50 years_. That is way slower than the rate at which government revenue grows.
There are roughly two ways to operate a public pension: 1: You setup a fund, pay into it over time, and make pension payments out when people retire. Or 2: You pay people when they retire, directly out of public finances, without a pre-existing fund.
We can see that ‘2’ is completely sustainable, because government revenue is growing _way faster_ than the ratio of pensioners vs workers.
The only reason the public pension is structured like ‘1’, _is because that is unsustainable_. It is deliberately unsustainable. It is part of the NeoLiberal trend of crapifying public services, in order to privatize them.
I’m a foreign resident in Ireland, I have ample savings that should be enough to own a home (>300k), but I refuse to participate in inflating real estate prices to even more decency-defying heights, besides I want to build accommodations to a much higher standard than the (frankly appalling IMO) level of what’s on sale in my area. But I keep getting told that I have no chance whatsoever of getting a building permit since I have no local connections, and there’s few sites for sale in the first place.
Should I move to yet another country ? Is the bubble ever going to crash, or will inflation of everything else just catch up to the ridiculous levels of the Irish housing market in a grand splurge of public deficit ?
Die before 60!!, that’s a friend of mine’s pension plan, he’s divorced, living in a rented bedsit, no savings or private pension. State pension would not cover his rent, as he literally, lives pay cheque to pay cheque, as it is. He drinks too much, diet is shite, as his rationale is, why bother being a healthy 70 year old, who still has to work.
You will own nothing and be happy.
Nobody wants to say it but this is basically a tax, disguised as a pension scheme.
You’ll own nothing,
Riot
Build. Fucking. Houses.
Build. Fucking. Apartments.
their ignorance and arrogance is inflating beyond all reason at this point.
They are telling us that they are actively trying to create a two-tier system; land owners and serfs with no meaningful possibility of home ownership for most people.
That is how you push people into large scale house-burning violence in response. There’s only so much (even the deeply cynical irish) people will take before ‘fuck you’ becomes their world view.
We all knew it, but it’s still a breathtaking admission.
Selling homes on the global investment market is a good candidate for the worst policy in the history of the state… And this is that policy succeeding in the only way it could succeed.
Oh well, better sit back, log on to Reddit and complain for a while.
People will continue to vote for them 🤦♂️
BuT sF wOuLd DeStRoY tHe EcOnOmY
Meanwhile, paying out god knows how many billions a few decades from now because of an ideological opposition to direct government funded housing is fiscally responsible…
That said, this policy is good. Of course people who find themselves at retirement age without the means to sustain a good quality of life should be given full economic security in their final years.
why do they have such a massive horn for absentee landlords ??
The fact that these things aren’t more of a scandal, that they don’t lead to mass protests or radical election swings….I don’t know how to finish the sentence. We just lose.
Where do you think the cost rental from the govt is coming from? And it still doesn’t solve the problem because housing has been commodifed. This is why investment pension funds have done so well. Housing isn’t seen as a right, it is seen as a profit making scheme by the very vulture funds that buy up all the housing and also run these pension funds.
Constituents would be happy to see their tax money go to social and affordable housing that actually solves the problem. But cost rental is just another scheme that will make the vulture funds richer, along with landlords that are attached to them.
This isnt a conspiracy theory. It’s basic neo liberal economics. If you think it’s some conspiracy theory, than you need to pop your head out of your rabbit hole, pay attention to the newspapers, and learn to connect the dots.
Non profit? That’s always funny.
Just stop being poor lads. ~FG
I can’t write on here what I hope happens in the next five years.
That’s just the government subsidizing landlords with extra steps.
My take which could be wrong:
Pensions are essentially a Ponzi scheme. They need inflows from the current working generation to pay the outflows to retirees. If they didn’t do this and actually sold the bonds and stocks that pension funds hold to pay for retirees weekly pension they would quickly cause these values to crash, and everyone’s pension would be underfunded.
Young people aren’t making enough money to pay into pensions, we’re all trying to save to get a house first. The government have decided this is not for us. I’ll be opting out.
This basically amounts to our government subsidizing overseas investment firms with our pension money.
Relax and keep yer powder dry. A crash is coming be ready
38 comments
Well that’s bleak….
Neo liberal cunts
Well that’s depressing
Bita sustained civil unrest might help out with it?
Fine Gael will literally spend billions so you can pay rent until you die instead of building accommodation the public can own.
They’re such lazy fuckers. Why don’t they get off their arses and actually try to solve the housing crisis through borrowing and building public housing. This is just more papering over the cracks. It’s shocking that this scheme isn’t being brought in to better people’s lives. It’s been brought in so we can continue to pay rent!
I swear, FF/FG need to destroyed in the next general election for any progress to be made. We’ve either had a FF or FG led government since 1959! They need to go. At this stage they don’t even deserve to be in opposition.
A pension scheme like this should always have been in place however the intention of it is terrifying. No mention of this being mandatory education in secondary school either. This is the sort of thing where education is desperately needed.
Ireland very much continuing down the road to the way the states operate with 401ks and ROTH accounts. Essentially nobody is coming to save you, there is no safety net, if you don’t save you’ll work until you die.
These fucking people…
Can we actually get some guarantees on pensions first? At the moment if my pension provider goes bust there is a big shrug, a “tough luck” and big fat 0.
i was gonna post about this too….. just when you think they might be about to help the ordinary joe the true reason for it comes out…. and lets be honest are we surprised
What a bunch of cunts. Hope they’ll burn in hell.
How very depressing. I hope to God I’ll be able to buy and pay off a mortgage even if it means my husband and I have to delay retiring.
I feel like the housing sh*tshow is almost an entirely separate issue to auto enrolment pension. Solving one won’t solve the other but both are urgently needed. I really hope the new pension scheme doesn’t attract this type of bad publicity, because it’s disingenuous. If you own your own home when you retire but have no pension then you are in poverty plain and simple. Clearly the situation is worse if you also don’t own a house but in both situations you aren’t going to actually get to retire friend.
The lack of understanding among the general public about how pensions (and taxes in general) work is astounding. If you’re earning a decent salary and able to afford it then you should try and have some type of pension to at least avail of some of the tax relief, it’s basically free money and I’d sacrifice any other form of saving to do it outside of a mortgage deposit and building a small emergency fund.
We should be demanding and expecting government to deliver both, not writing off a good idea simply because it doesn’t solve the housing crisis
Lol, we’re fucked.
By the time I get to “retirement age” there likely won’t even be a pension. People are having less kids than ever and can barely even afford basics like housing these days. We’re kicking an absolute enormous bomb down the road that’s going to explode at some point, be it 10 years, 20, 30 or however long. There going to be a significant number of people at some point who don’t have the means to sustain themselves in anything beyond poverty. All part of the plan I guess.
It seems like perverse reasoning but this is only until they find a way to bilk you out of your pension and hand it over to the megarich like they do with property.
Remember to vote for government parties next election.
This is depressing as fuck! Owning my own home is now not a reality for me even though I am in a “decent” job and its so depressing.
In the last 20 years, government revenue has [increased 4x](https://d3fy651gv2fhd3.cloudfront.net/charts/ireland-government-revenues.png?s=irelandgovrev&v=202203021529V20220312&d1=19970405) ([source](https://tradingeconomics.com/ireland/government-revenues)), and when you [adjust that](https://d3fy651gv2fhd3.cloudfront.net/charts/ireland-consumer-price-index-cpi.png?s=irelandconpriindcp&v=202203101121V20220312&d1=19970405) for [inflation](https://tradingeconomics.com/ireland/consumer-price-index-cpi) that is a 2.5x inflation-adjusted increase in government revenue.
That happened in 20 years, despite the worst recession in almost a century, followed by an economic Lost Decade.
The idea of a ‘pension timebomb’ is based on the ratio of pensioners vs workers, which is set to grow 2x _in 50 years_. That is way slower than the rate at which government revenue grows.
There are roughly two ways to operate a public pension: 1: You setup a fund, pay into it over time, and make pension payments out when people retire. Or 2: You pay people when they retire, directly out of public finances, without a pre-existing fund.
We can see that ‘2’ is completely sustainable, because government revenue is growing _way faster_ than the ratio of pensioners vs workers.
The only reason the public pension is structured like ‘1’, _is because that is unsustainable_. It is deliberately unsustainable. It is part of the NeoLiberal trend of crapifying public services, in order to privatize them.
I’m a foreign resident in Ireland, I have ample savings that should be enough to own a home (>300k), but I refuse to participate in inflating real estate prices to even more decency-defying heights, besides I want to build accommodations to a much higher standard than the (frankly appalling IMO) level of what’s on sale in my area. But I keep getting told that I have no chance whatsoever of getting a building permit since I have no local connections, and there’s few sites for sale in the first place.
Should I move to yet another country ? Is the bubble ever going to crash, or will inflation of everything else just catch up to the ridiculous levels of the Irish housing market in a grand splurge of public deficit ?
Die before 60!!, that’s a friend of mine’s pension plan, he’s divorced, living in a rented bedsit, no savings or private pension. State pension would not cover his rent, as he literally, lives pay cheque to pay cheque, as it is. He drinks too much, diet is shite, as his rationale is, why bother being a healthy 70 year old, who still has to work.
You will own nothing and be happy.
Nobody wants to say it but this is basically a tax, disguised as a pension scheme.
You’ll own nothing,
Riot
Build. Fucking. Houses.
Build. Fucking. Apartments.
their ignorance and arrogance is inflating beyond all reason at this point.
They are telling us that they are actively trying to create a two-tier system; land owners and serfs with no meaningful possibility of home ownership for most people.
That is how you push people into large scale house-burning violence in response. There’s only so much (even the deeply cynical irish) people will take before ‘fuck you’ becomes their world view.
We all knew it, but it’s still a breathtaking admission.
Selling homes on the global investment market is a good candidate for the worst policy in the history of the state… And this is that policy succeeding in the only way it could succeed.
Oh well, better sit back, log on to Reddit and complain for a while.
People will continue to vote for them 🤦♂️
BuT sF wOuLd DeStRoY tHe EcOnOmY
Meanwhile, paying out god knows how many billions a few decades from now because of an ideological opposition to direct government funded housing is fiscally responsible…
That said, this policy is good. Of course people who find themselves at retirement age without the means to sustain a good quality of life should be given full economic security in their final years.
why do they have such a massive horn for absentee landlords ??
The fact that these things aren’t more of a scandal, that they don’t lead to mass protests or radical election swings….I don’t know how to finish the sentence. We just lose.
Where do you think the cost rental from the govt is coming from? And it still doesn’t solve the problem because housing has been commodifed. This is why investment pension funds have done so well. Housing isn’t seen as a right, it is seen as a profit making scheme by the very vulture funds that buy up all the housing and also run these pension funds.
Constituents would be happy to see their tax money go to social and affordable housing that actually solves the problem. But cost rental is just another scheme that will make the vulture funds richer, along with landlords that are attached to them.
This isnt a conspiracy theory. It’s basic neo liberal economics. If you think it’s some conspiracy theory, than you need to pop your head out of your rabbit hole, pay attention to the newspapers, and learn to connect the dots.
Non profit? That’s always funny.
Just stop being poor lads. ~FG
I can’t write on here what I hope happens in the next five years.
That’s just the government subsidizing landlords with extra steps.
My take which could be wrong:
Pensions are essentially a Ponzi scheme. They need inflows from the current working generation to pay the outflows to retirees. If they didn’t do this and actually sold the bonds and stocks that pension funds hold to pay for retirees weekly pension they would quickly cause these values to crash, and everyone’s pension would be underfunded.
Young people aren’t making enough money to pay into pensions, we’re all trying to save to get a house first. The government have decided this is not for us. I’ll be opting out.
This basically amounts to our government subsidizing overseas investment firms with our pension money.
Relax and keep yer powder dry. A crash is coming be ready