Proposal to increase State pension age by 3 months every year from 2028
The Cabinet this evening discussed a proposal to increase the State pension age by three months every year from 2028.
This proposal is part of the report of the Pensions Commission that Minister for Social Protection Heather Humphreys has brought to Government.
Under the recommendations, the pension age would reach 67 in 2031 and it would increase again by three months every two years from 2033 onwards.
Under this plan the pension age would be set at 68 years from 2039.
No decision on the issue will be reached today by Government and the matter is likely to be considered further by a Cabinet Sub-Committee.
A decision on whether or not to proceed with the recommendations is expected to be reached before next April.
Irish Congress of Trade Union general secretary Patricia King said: “Congress has never denied the challenge population ageing presents for the public finances if no action is taken.
“However, the 2011 Pensions Act put Ireland on course to have the highest pension age in the OECD in 2028, despite our young population.
“It went too far too fast and forced workers at 65 to sign-on, putting them at risk of poverty at the end of a long working life.
“Congress is pleased the Commission has heard and agreed with us on this.”
Meanwhile, the National Women’s Council (NWC) said it was “disappointed that the deep, structural inequalities experienced by women in our pensions system are not more comprehensively addressed” in the document.
NWC Director Orla O’Connor said: “While it will take some time to analyse the full report, it would appear that the commission recommendations continue to uphold a system that is failing women.
“It is failing those older women who were expected by Irish society to take on the full weight of caring responsibilities but whose contribution is not fully recognised by our pension system.
“And, it is failing those women who today, continue to provide the lions share of unpaid care and to be in low paid, part time jobs on precarious contracts.”