Irish Pensions Face Losses Without Private Market Access – Elkstone
Irish Savers Coudl Boost Domestic Economy with Pension Investment Shift
A proposal to encourage Irish savers to invest a portion of their pensions in domestic ventures could significantly benefit teh Irish economy, according to alan Merriman, CEO of Elkstone. Merriman argues that a shift in investment strategy, possibly making it an opt-out rather than an opt-in for a small percentage of pension funds, could unlock vital capital for key sectors.
Unlocking Growth: The Case for Domestic Pension Investment
Merriman draws a parallel with discussions happening in the UK and US, where there’s a growing impetus to channel pension funds into domestic growth opportunities.He believes Ireland should be proactive in this regard, aiming to lead rather than merely follow international trends.
“The UK is also grappling with this question of do you force people to invest in the UK economy,” Merriman stated. “In Ireland we should at a minimum have it as an opt out, so you’d have to make a decision not to put 5pc or 10pc of your investment into Irish investments.”
This approach, he suggests, would not only benefit the broader economy but also provide Irish savers with access to potentially higher returns.
Addressing Ireland’s Investment Needs
Merriman highlighted specific areas within the Irish economy that are in dire need of investment, yet are not seeing sufficient engagement from domestic savers. these include crucial sectors like housing and infrastructure. By making it easier for pensions to be directed towards these areas, Ireland could foster meaningful advancement and job creation.
Elkstone, a firm that advises wealthy families and individuals on long-term investments, has itself invested in a range of Irish ventures, including tech start-ups and housing projects. Merriman believes that opening up such investment opportunities to ordinary pension funds would democratize access to potentially lucrative growth avenues.
“Realistically this is a long-term conversation,Elkstone won’t make money out of this any time soon,” he acknowledged,emphasizing the long-term,strategic nature of the proposed shift.
The suggestion comes at a time when many economies are re-evaluating how pension funds can be leveraged to support national economic development. Ireland, by adopting a more agile approach, could position itself to capitalize on these opportunities and build a more robust domestic investment landscape for the future.
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This article was amended at 9.26 on July 26, 2025, to correct the name of the Elkstone CEO to Alan Merriman rather than Brian as originally reported.*