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Pensions set to increase to ma...

National

Pensions set to increase to match average wage amount

RedFM News
RedFM News

10:54 2 Aug 2022


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Pensions and social welfare payments are set to be benchmarked to the average industrial wage.

It would mean pensions and dole payments would then rise with inflation.

Officals at the Department of Social Protection haven't yet decided what percentage of the average industrial wage should be linked to average wages.

Natt O'Connor from Age Action Ireland says such a move would be welcomed:

"Well certainly it's something we've been calling for for a long time and most countries around Europe including the UK would have a indexing and benchmarking of the state pension and other welfare. So for example, this year, the UK pension will go up by £18.70 and they do that automatically, so that the pension is keeping track with the cost of living and also with average earnings so people are not being left behind in societies."


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