Vol. 518 No. 4
217 Mr. Noonan asked the Minister for Social, Community and Family Affairs the estimated full year cost of reducing the age of eligibility for both contributory and non-contributory old age pensions to 60 years of age; and if he will make a statement on the matter. [12100/00]
The costs requested by the Deputy are not readily available. However, it is estimated that a reduction of one year in the qualifying age for both the old age contributory and non-contributory pensions from age 66 to 65, including knock-on effects to other social welfare schemes, would cost in the region of £52 million in a full year.
Any such reductions would have major financial implications, and in view of future demographic projections, would only serve to increase pressure on future pensions funding and provision.
