Retirement age will be linked to life expectancy

Retirement age will be linked to life expectancy

The government is planning to save €1 billion per year on old age pension payments by getting workers to work beyond 68.

It is now official government policy to link the state pension retirement age to life expectancy, meaning it will increase as people live longer.

Projections in the national medium-term financial plan show that the annual €6 billion cost of the state pension is due to increase to €9.5 billion by 2070. The government signalled that...

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