Irish Insurance Federation president Tom Barry wants a greater incentive placed on saving for the future...
The Irish government must encourage its people to make adequate provisions for their retirement, says Irish Insurance Federation (IIF) president Tom Barry.
He is keen for further reforms to take place in the industry, such as the nurturing of the savings culture, which has seen a recent boost by the introduction of the Special Savings Incentive Accounts.
Barry, who was elected IIF president in May (2005), said: "If the right steps continue to be taken then further progress will be made.
"Unfortunately, as a nation and as individuals we are still not saving adequately for retirement. There is an onus on insurers as providers of pension products to lead the way on behalf of their customers in developing recommendations to encourage government to offer incentives to people to put some of their SSIA savings aside for the future."
