Ireland. Restoring pension age to 65 would cost €620m a year, claims FF
Pulling plans to increase the State pension age will cost the incoming government up to €470 million a year, according to Government’s own figures, Fianna Fáil has said. And there will be a further €150 million bill annually if a transition pension is put in place to cover those forced out of their jobs at 65, the party’s spokesman on social protection Willie O’Dea said.
The comments come as political parties come under pressure from voters over plans to raise the State pension age to 67 from next year and to 68 from the start of 2028.
All major parties have reported it as an issue that has arisen on the doorstep. Speaking on Morning Ireland, Mr O’Dea also confirmed Fianna Fáil plans to outlaw contracts that force workers to leave their jobs at 65.
He added that, if elected, his party would ensure that there would be no more “signing on” for people who had retired.
Regina Doherty, the Minister for Employment Affairs and Social Protection, said it was “very doubtful if outlawing contracts would be constitutional because most people freely enter into their contract”.
“It’s part of their property rights and under our constitution any interference by the State with those rights has to be necessary and proportionate.”
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