The pensions gender gap is worse than you think

The best news, analysis and comment from The Irish Times business desk

Women will have to work an extra eight years on average to earn the same pension pot as a male colleague, a new report from Irish Life has found. The life company examined the 130,000 members of defined contribution pension schemes that it manages on behalf of private sector employees and found a gender pay gap of 22 per cent between men and women. In addition, Eurostat figures show that women, on average, take six years out of the workforce to care for children or other aged or dependent relatives. Dominic Coyle has read the study.

Nua Money, a mortgages start-up backed by the Allen beef barons of Wexford, has secured a licence from the Central Bank and plans to start offering loans through an initial group of 10 brokers around the end of June, according to sources. Joe Brennan has the details.

Paddy Power owner Flutter is weighing job cuts across its business, including in Dublin offices, as it shifts some operations to lower cost locations overseas. Barry O’Halloran has the story.

Barry also reports that State company DAA may ask planners to raise a 32-million a-year passenger limit on Dublin Airport to 36 million in the autumn in a bid to fast track efforts to lift the controversial cap, according to its chief executive, Kenny Jacobs.

In Net Results, John Thornhill outlines why AI companies need to do more to earn the public’s trust as the sector forges ahead.

Bank of Ireland has filed proceedings against a company controlled by former shareholders in Davy, the stockbroking firm it bought in 2022 for €427 million. The bank is threatening to withhold about €15 million in cover related to historical legal claims against Davy, and has filed proceedings against Ailmount Limited, which is owned by roughly 700 former shareholders in Davy. Barry J Whyte reports.

Dominic also reports that workers are likely to see auto-enrolment as a tax unless employers and the Government move to communicate actively about the positive nature of the scheme, Aon has warned.

RTÉ's plan to increase its level of commissioning from independent production companies does not go far enough and instead all of its screen output, excluding news and current affairs, should be made by the independent sector by 2030, Screen Producers Ireland (SPI) will say in a report to be launched today. Laura Slattery reports.

Peer-to-peer lending platform Linked Finance said it plans to boost lending next year by 25 per cent over its 2024 targets. That will see it lend €100 million over the year, up from the €80 million in loans it expects to issue this year, and €59 million in 2023. Ciara O’Brien reports.

Cantillon looks at why former Greencore boss Patrick Coveney has been buying shares in his new company, while lamenting the loss of the London Evening Standard’s daily print edition.

The directors of a Dublin-based company have begun winding up proceedings after the company was sanctioned by the US treasury department for trading activity that supported “Russia’s military-industrial base”. Barry J Whyte has the story.

Two-thirds of Irish cafes and restaurants say the return of the VAT rate for the hospitality sector to 13.5 per cent last September is the greatest threat to their business, as insolvencies across the sector rise, according to a new survey. Joe has the details.

In Innovation, Fiona Alston looks at why the defence sector is proving popular once again in what is an increasingly dangerous world, while Tabby Kinder assesses whether AI will help revive troubled San Francisco.

In Technology, Ciara O’Brien reports on the role Apple’s Ireland base in Cork plays in improving the longevity of its products, and also reviews a device that uses technology to help ease the pain of insect bites.

And Olive Keogh speaks to Lua Health a spin-out from the University of Galway whose founders, Mihael Arcan and Fionn Delahunty, have developed a system that analyses human language to identify early signs of mental health deterioration in employees.

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