Over-65s lose €1bn in state proposal

People aged 65 and over will be missing out on pension payments of about €1 billion a year as a result of the government’s proposal to increase the retirement age to 68.

6th March, 2010

People aged 65 and over will be missing out on pension payments of about €1 billion a year as a result of the government’s proposal to increase the retirement age to 68.

The 65-year-olds will forgo a state pension worth €12,000 a year for three years once the retirement age is increased to 68.They will effectively be losing a state benefit worth €36,000 in today’s money.

A spokeswoman for the Department of Social...

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