Fund for public service pensions
Sir — There are 300,000 public service workers and a average of €10 per worker per week paid into a pension fund would amount to ¤3m per week.
The accumulation of millions of euro in a pension fund would mean that the pension fund could purchase the Garda stations, the schools, the hospitals and rent them back to the State. This would mean that the transaction would go in a social circle from the public service worker to the fund, to the State and back to the pensioner.
The pension fund would not be involved in the day-to-day running of these institutions. If we are going to plug the pension hole, we need to embrace innovative ideas now. L Grant, Dublin