Advertisement
Economist says late retirement...

National

Economist says late retirement could mean extra pension money

RedFM News
RedFM News

10:32 25 Jul 2022


Share this article


An economist has said people who opt to delay retirement could get an extra €10 a week from the State under new plans.

It comes as the Taoiseach has said major reform of pension policy has been agreed.

The age people qualify for a state pension would remain at 66, but people could work longer, retire later and get a larger pension as a result.

Economist Austin Hughes says there has been a number of studies into how such a system might work:

"They tend to suggest around 5% a year, that's for rounding, say call the pension 200.Well, that would mean if you retire a couple of years later, you would get roughly a tenner extra in your pension for each year. That would be the sort of actuarially based idea behind this."


Share this article


Read more about

Cork Money News RedFM Retirement

You might like