Vol. 550 No. 2
435 Mr. G. Reynolds asked the Minister for Social, Community and Family Affairs his proposals to reduce the qualifying age limit for the non-contributory old age pension to 64 years; and the estimated cost of this to the Exchequer in a full year. [8215/02]
The estimated cost of reducing the qualifying age for old age non-contributory pension to 64 years is €92 million per annum. Any reduction in the qualifying age for the old age non-contributory pension would also have implications for the old age contributory and retirement pension schemes. Reducing the qualifying age for these schemes would cost approximately €240 million per annum.
In considering proposals for reducing pension age generally a number of issues need to be considered including the additional costs involved, the projections for the ageing of our population, improved life expectancy, the sustainability of our pension systems and EU policy in this area which seeks to improve the workforce participation of older people as a way of dealing with the sustainability issue.
