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Submission to the strategic review of the pensions - Retirement

Submission to the strategic review of the pensions - Retirement 2025

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The document is a submission by Phil Gallagher, Director of the Retirement Income Modelling Task Force, to the Strategic Review of the Pensions' Income and Assets Tests. It analyzes the Institute of Actuaries' proposals for reforming the retirement income system, highlighting limitations in existing models used for cost analysis, particularly the National Mutual Retirement Income Policy (RIP) model. Gallagher raises concerns about potential regressive impacts on lower-income retirees and higher costs to government associated with the proposed universal age pension. The analysis suggests that while some couples may benefit from increased pensions under the proposals, overall costs could rise significantly, necessitating careful consideration of funding mechanisms and equity implications.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your personal information in the designated fields, including your name, contact details, and any relevant identification numbers.
Proceed to the section outlining your views on the proposed reforms. Use clear and concise language to express your opinions and suggestions.
In the financial assessment section, provide accurate figures regarding your current pension income and assets. This will help in evaluating the impact of proposed changes.
Review all entered information for accuracy before submitting. Utilize our platform's editing tools to make any necessary adjustments easily.
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