New report recommends government delay increasing pension age

Photo: Pexels Images

A new report has recommended the government delay increasing the state pension age.

The qualifying age was meant to rise from 66 to 68 by 2028.

But a study from the government-established Pension Commission has said the increase to 68 should not happen until 2039.

Social protection minister Heather Humphreys says the system must be changed.

“The current State Pension system is not sustainable in to the future

“In 2020 for every person in receipt of the State Pension there were 4.5 people working.

“By the time we reach 2050, for every person in receipt of the State Pension there will be just over 2 people working.”

Sinn Fein says people should have the right to retire at 65 with the State pension.

Louise O’Reilly believes people should be able to retire at 65 if they want to.

“I think we also need to have a very full and frank conversation because we need to make sure that pensions are affordable and sustainable.

“Sinn Fein’s position is that people should have the right to retire on the state pension rate of pay.

“But we also need to have a broader conversation into how we fund pensions for the future.”

Back to news

Follow South East Radio on:

Facebook – Instagram – Twitter – Linkedin

More News