ARTICLE · 09 APRIL 2013

Increase In State Pension Age

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The Social Welfare and Pensions Act 2011 provided for increases to the age at which the State Pension is payable.

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Paul Glenfield

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The Social Welfare and Pensions Act 2011 provided for increases to the age at which the State Pension is payable. The standard State pension age is to increase to 66 with effect from 1 January 2014. The Act also provides for an increase in the age for qualification for the State pension from 66 to 67 years from 2021 and a further increase to 68 years from 2028.

While there is no statutory retirement age in Ireland, many employment contracts specify a retirement date of the employee's 65th birthday. This age is frequently chosen to coincide with the date at which employees become entitled to the State pension. It is anticipated that an increased number of employees will now wish to work past the age of 65 as they may not be financially able to retire at that age without the State pension.

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