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Increase in pension age won't bring additional savings - Naughten

Feb 2, 2022 13:02 By Shannonside News
Increase in pension age won't bring additional savings - Naughten Increase in pension age won't bring additional savings - Naughten
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It's also recommending 'flexibility' to allow people with 40 years of contributions to receive the state pension at the age of 65.

The chair of a committee which examined increasing the pension age beyond 66 agrees with a report recommending maintaining the status quo.

The government has previously warned that by 2040 there will be difficulties in paying the pension to those eligible at 66 and it was suggested the age should be extended to 68.

However, Denis Naughten, who is the chair of a committee examining the issue, says increasing the age at which a person can receive the payment may not bring in additional savings.

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The committee would instead prefer to see changes to PRSI rates and a contribution of 10 percent from the exchequer to pay the potential deficit.

Speaking on the Joe Finnegan Show, the Roscommon TD feels the commission's report should have taken other factors into account.

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