Siptu has condemned the Government’s pensions report as “useless window dressing”.

The union’s general president Jack O’Connor has said it fails to deal with key aspects of the developing crisis involving retirement and pension provision in Ireland.

He has said the report contributes nothing to resolving the problems of our future and our present.

“This report simply repeats what is already well known and lists a few innocuous recommendations that will contribute nothing to resolving the problems confronting the future provision of adequate pensions for retirees,” said O’Connor.

“Unfortunately, it merely amounts to a useless exercise in window dressing. It completely fails to address the plight of older workers approaching mandatory retirement age who have been left high and dry by the abolition of the Transitional Pension without any period of advance notice to allow them to try to accumulate some savings to cushion the resulting financial shortfall.

“SIPTU has repeatedly called for an increase in job seekers benefit at 65 as a temporary measure to deal with this problem. Such a provision would cost as little as €5m-a-year to cover those forced to retire at 65 and just €25m for all 65 year olds who are dependent on the Social Welfare system.

“There is a major crisis unfolding in the retirement and pensions arena. If it isn’t tackled, it will ultimately rank second only to the banking crisis of 2008 in terms of severity and economic implications.

“We deserve more from our elected legislators than the kind of hand wringing that is displayed in this useless report.”