An exploratory study of the wealth of older people in Ireland ��� North and South

In 2012, CARDI was asked by The Office of the First Minister and Deputy First Minister in Northern Ireland to carry out a series of research projects on ageing in Ireland, North and South. This study, An exploratory study of the wealth of older people in Ireland – North and South, was led by Professor Paddy Hillyard, Queen's University Belfast. It had the following objectives: Examine what information is available on the wealth of older people on the island of Ireland. Describe the type and level of housing, property and other assets. Provide comparable estimates of the wealth of older people in Northern Ireland (NI) and the Republic of Ireland (ROI). Draw out the policy implications of the research. Stimulate a wider discussion about wealth and inequalities. Key findings: In NI the total personal wealth was estimated at just under �100 billion. People aged 50 and under were estimated to have 35% of the total wealth, while people aged 50 and over had 65%. Existing data does not allow for a similar comparison in ROI. People aged 65+ in NI have a median disposable weekly income of �280 compared to �494 for those aged 25-49, �452 for those aged 50-64 and �251 for those aged 16-24. In ROI, people aged 65+ have a median disposable weekly income of €446 compared to €790 for those aged 25-49, €654 for those aged 50-64 and €418 for those aged 16-24. In NI, people aged 65+ have the highest rate of home ownership (63%) and the lowest level of outstanding mortgage (3%) of any age group. They also have the highest level of savings (�4,000 on average) but the lowest level of value of household goods (a median of �525). In ROI, 87% of people over 65 own their house outright and 2% own their house with a mortgage. The average value of savings held by this age group is €5,519. In ROI the total value of owner-occupied housing stock was estimated to be €280 billion, of which 54% was held by those under 50. In NI people over 50 had �42.5 billion (60%) of owner-occupied housing assets while those under 50 had �28.2 billion (40%).

Understanding socio-economic inequalities affecting older people

In 2012, CARDI was asked by The Office of the First Minister and Deputy First Minister in Northern Ireland to carry out a series of research projects on ageing in Ireland, North and South. This research project, 'Understanding socio-economic inequalities affecting older people’ , was carried out by Paul McGill, CARDI. The research sought to answer the following questions: Are there inequalities that affect older people as a group compared with younger people, or inequalities that exist within the older population? How are these inequalities changing over time? Do these socio-economic inequalities have a detrimental impact on older people or on a substantial number of them? How can any harmful socio-economic inequalities be reduced or eliminated and what are the implications for policy-making? Key Findings*: In RoI the poorest older people had a rise of €32 per week between 2004 and 2011 in total incomes while those with the highest incomes had a rise of €255 (CSO 2013). Total incomes of the poorest pensioner couples in NI did not change between 2003-06 and 2008-11 but the best off had a rise of �37 per week (DSD 2013). Employees aged 60+ earn €10,000 less per year than earners in their peak years in RoI and �2,400 less in NI (CSO Database and NISRA 2012). The richest older people in RoI earn 14 times more from employment than the poorest. In NI it is 36 times more for single pensioners and 44 times more for pensioner couples (CSO 2013; NISRA 2013). The gap in weekly earnings between top and bottom earners aged 60+ in NI rose from �294 to �430 between 2005 and 2012 (NISRA 2012). In the two years 2009-2011 the incomes of the poorest older people in ROI declined by €24 per week (11.4%) (CSO, 2013).

ICT Action Plan Meeting the high-level skills needs of enterprise in Ireland

The technology sector in Ireland is thriving. Employment, through indigenous and multinational technology firms continues to grow strongly year on year. All of the top 10 multinational technology companies have a significant presence in Ireland and the indigenous software sector’s exports are worth well in excess of €1 billion annually. Five of the top 10 exporters in Ireland are technology companies, and the sector is responsible for approximately one-third of Ireland’s total turnover. Since January 2011, over 80 jobs a week have been announced in the sector. This is on foot of 6% employment growth in 2009 and 4% in 2010. A recent global competitiveness report ranks Ireland as the top destination in the world by quality and value of investments. With a growing multinational technology presence in Ireland and a vibrant and innovative indigenous software sector, the future prospects for Ireland’s technology sector are bright.