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Tue 07 Jul 2007Proposed solution to crisis may leave savers down 20%PensionsThe proposal to introduce individual retirement accounts to solve the pensions crisis offers poor value for savers, a new paper claims.Dr Shane Whelan, an actuary in the UCD school of mathematical sciences, said proposals for mandatory savings accounts contained in the National Pensions Review would produce pensions that are 20 per cent lower than the pay-as-you-go State pension system for the same level of contributions.