Joe Walsh
Question:169 Mr. J. Walsh asked the Minister for Social Welfare the plans, if any, he has to reduce the retirement age; and if he will make a statement on the matter. [24932/96]
Written Answers. - Pension Age Reduction.
I understand the Deputy is referring to reducing pension age from 66 to 65 years. The estimated cost of reducing pension age by one year is £30 million per annum and would have to be considered in a budgetary context.
The National Pensions Board in its final report — Developing the National Pension System — considered that a standard age for both retirement and old age pensions should be 65 years. However, because of the costs involved they considered this to be a low priority.