Latest Ireland News
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Garda to stand trial for using forged letter regarding criminal investigation
A garda is to stand trial accused of using a forged letter purporting to be from the office of the Director of Public Prosecutions (DPP) in connection with a criminal ...
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PSNI investigate partial explosion of viable pipe bomb
In Belfast, the PSNI are investigating the circumstances surrounding a viable pipe bomb that partially exploded on a residential street yesterday.Detectives are appealing for information about the incident that happened in the Melrose Street area at approximately 10.45pm last night.The army bomb squad removed the device for further forensic examination.No one was seriously ...
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Man held over false imprisonment claim
Gardaí have arrested a man in connection with an attack on a woman in Dublin last weekend. The woman alleged she escaped after she was held against her will at a bed and breakfast in the city last Sunday night The man was arrested in Beaumont this morning and is being questioned at Mountjoy Garda Station The woman told detectives that she was there with a man who assaulted her in one ...
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Mulvey does not understand teachers decision
Labour Relations Commission Chief Executive Kieran Mulvey, has said he does not understand the decision of two teachers' unions not to ballot their members on the Haddington Road Agreement. The Association of Secondary Teachers of Ireland and the Teachers Union of Ireland said they had taken the decision because they believed the proposals on public sector pay did not contain sufficient ...
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PSNI probes Belfast pipe bomb
The PSNI say an explosion heard in south Belfast last night was a pipe bomb type device which had partially exploded. The pipe bomb was discovered in the Melrose Street area off the Lisburn Road. The device was taken away by British Army bomb officers for further forensic examination. A number of houses in the Melrose Street area were evacuated for a time while the device was dealt with. PSNI ...
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Man arrested after woman claims she was falsely imprisoned in Dublin hotel
A man has been arrested for allegedly holding a woman against her will in Dublin last week.A woman has accused the man of falsely imprisoning her at a city centre hotel last Sunday.Detectives arrested the man outside Beaumont Hospital shortly after 9am this morning - and are questioning him at Mountjoy Garda Station under Section 4 of the Criminal Justice ...
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Survey reveals parents pay €15k to child minders
According to a new survey parents are paying as much as EUR15,000 a year to child minders.A report complied by the Irish Independent reveals the extent of the burden on Irish families to meet childcare costs.The findings shows the cost of childcare is forcing many women to give up their jobs or work part-time.The survey outlines the wide variation in fees charged across the country with parents ...
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Irish funds steam ahead with yet another month of positive returns
Irish pension funds are continuing on their upbeat paths with the sixth consecutive month producing a positive performance, with an average 2.8 per cent return, says Rubicon Investment Consulting. The best performing fund was Irish Life Investment Managers, at 3.9 per cent, and Aviva Investors, although bottom of the table, still managed to return a positive 2.0 per cent for August. ...
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Irish government releases hotly-anticipated report recommending Pensions Board merger
Merges between the Pensions Board and the Financial Regulator, and the Pensions Ombudsman and the Financial Services Ombudsman, have been recommended in the Irish government’s ...
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Irish funds continue to record positive results
Irish pension managed funds have succeeded in another consecutive month of positive returns, according to both Hewitt Associates and Rubicon. ...
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ISPCC to highlight day of remembrance for missing children
A day of remembrance and solidarity for missing children across the world will take place today with events being held here in Ireland.The ISPCC will highlight 'International Missing Children's Day' by placing a focus on the needs of families who have not been able to locate their loved ones.22 countries across Europe operate a missing child hotline to assist families who find ...
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Irish funds back in the black
At last some positive news for Irish Pension funds, with Hewitt’s monthly Managed Fund Index reporting that the month of April 2009 returned 8.7 per cent. The global human resources services company released the monitor, which is an indicator of Irish Pension Managed Fund performance, which shows a continuing increase in returns, with March figures standing at 2.6 per cent. ...
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Ireland granted further pension protection
Ireland’s defined benefit (DB) pension scheme members will gain further support with news that a new Pensions Insolvency Payment Scheme (PIPS) is to be introduced in the Social and Welfare and Pensions Bill 2009. Minister for Social and Family Affairs, Mary Hanafin T.D., announced that the new development will assist employees and former employees of companies where the employer ...
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Irish private pensions ‘need support’ – IAPF
Irish private pension provision will be destroyed if the Irish Government goes ahead with a reduction in tax relief, says the Irish Association of Pension Funds (IAPF). Next month’s supplementary Budget will outline the proposals, and the IAPF has released a briefing paper in advance of this. It says that the reduction in relief on pension contributions to the standard rate would ...
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Irish scheme assets drop not as bad as expected – IAPF
Irish pension scheme assets fell by 23% in 2008, the Irish Association of Pension Funds (IAPF) has reported as part of its annual asset allocation survey, which, says the association, is less than might have been expected given recent market conditions At year end, assets under management amounted to EUR 66.7bn compared with EUR 86.6bn at the end of 2007, which brings the total value of ...
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No letup for Irish pension funds
The credit crunch is not letting up on Irish pension funds, with February recording further losses of 5.7 per cent. In January, the average fund declined by 1.9 per cent, brining the return for 2009 so far to -7.5 per cent. The best performing manager during February was Standard Life Investments, with -5.0 per cent, and Irish Life Investment Managers delivered the worst performance of ...
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Cases mount up for Irish Pensions Ombudsman
The Irish Pensions Ombudsman saw a forty-three per cent rise in new cases compared to 2007, with the number of cases closed in 2008 up by ten per cent on last year. Around 450 cases are currently under investigation by the Dublin-based organisation, and its website has recorded over a third of a million hits annually. A statement regarding the provisional figures of the caseload in the ...
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Irish funds record huge 2008 losses
A turbulent 2008 took its toll on Irish pension funds, with recorded losses of €27bn as managed funds declined by 34.8 per cent, according to Rubicon Investment Consulting. Leading a dismal set of results was Setanta Asset Management, with a return of -29.6 per cent, and Hibernian Investment Managers was the worst performing manager with a return of -38.8 per cent. Rubicon has ...
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Irish DC funds given option to defer annuity purchase
A new option for members of defined contribution (DC) occupational pension schemes which will defer the purchase of a retirement annuity for a specified two-year period has been announced by Ireland’s Minister for Finance, Brian Lenihan. Under current provisions, member of DC schemes are obliged to purchase an annuity immediately upon retirement with their pension fund, after ...
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Protests against property tax to continue ahead of deadline
A series of car cavalcades and rallies are taking place in Dublin and around the country this weekend in protest against the property tax.It comes just a few days ahead of next Tuesday's deadline to pay the charge.Revenue officials say over 1.1 million homeowners have filed their returns, and that anyone still wishing to do so can log on to www.revenue.ie.However, the Campaign Against Home ...
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Breakthrough technology for children with autism showcased in Westmeath
An information day on new learning software for children with autism will take place in Westmeath today.The breakthrough technology teaches children with the condition to learn through pictures rather than words.The internet based learning experience is supported by Disney Pixar and Adobe.Enda Dodd developed the new software - he explains why its so important:"I think that any parent that ...
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Sarasin carves way into Irish market
The UK subsidiary of the Sarasin Group in Switzerland has its new offices in Dublin, and business operations have begun with immediate effect. The National Gallery in Dublin will host the official launch event of the office on 19 November ...
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Irish pension funds lose third of value
Irish pension funds have lost a third of their value in just 12 months, falling by 33.4 per cent, according to investment consultant Rubicon. In October 2008 alone, Irish pension managed funds fell by 9.2 per cent on average, with the best performance coming from Eagle Star at -8.5 per cent. Irish Life Investment Managers delivered the poorest returns, with -10.5 per cent. So far in ...
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Irish market opens up to China
The Irish funds market has opened its doors to Chinese investors in a move by the Irish Funds Industry Association (IFIA). The Irish financial regulator, IFSRA, signed a Memorandum of Understanding one Thursday 23 October with the China Securities Regulatory Commission (CSRC) and the China Banking Regulatory Commission (CBRC), its Chinese counterparts. This will enable Chinese investors ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
Ireland Digest
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Is Ireland living beyond its means?
Ireland is highly developed and has experienced rapid and constant economic growth in the last few decades, with many calling the country the Celtic Tiger. But recent events in the world economy and the financial situation of Europe may mean changes are afoot for the Tiger.
Ireland is one of the most developed countries in the world and has a high tax high government service economic model, it has for the last few decades substantially reduced the socio-economic inequalities in the economy and had a Gini coefficient score of 30.1 in 2000 while The Economist says we have the best quality of life in the world. This has come at a cost though, government deficits are running at over 10% of GDP, public debt accounts for over 40% of all revenue generated in the economy and the Irish population has a debt level, in relation to disposable income, that is the highest in the developed world – our personal debt in 190% more than our disposable income. All this begs the question, are we living within our means or is Ireland’s economic model unsustainable? Read more
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