A new scheme's been launched to offer extra welfare payments for young unemployed people.

The 'First Steps' programme will offer work placements for up to 2,000 people aged between 18 and 25. The initiative, which is similar to JobBridge, will then see participants get €50 a week on top of their usual welfare payments.

Tánaiste Joan Burton has also announced an extension to the scheme where employers are given grants to hire young people who have been unemployed for over 12 months.

She is also hoping to boost the ownership of private pensions.

Currently, just half of workers have a pension, and the Tánaiste has set up an inter-departmental group to look at the introduction of a universal retirement savings scheme, on top of the state pension.

It's not been decided yet whether it will be mandatory or not. While Ireland has a relatively young population, by the year 2060, almost a quarter of the population will be over the age of 65.

Minister Burton joined Pat Kenny today to discuss the new programme, pensions and Irish Water.

Commenting on the Irish Water issue, she stated: "It didn't have the most wonderful launch in life.

"This is something as a country as a society, we need to fix."

Speaking about the water grant, she said: "We found there were a very large group that would miss out.

"In terms of paying people, the Department of Social Protection pays 85 million payments a year. We're a payments department.

"It's being done on behalf of the Department of the Environment."

You can listen to her interview here: