The estimated year-on-year cost of increasing all contributory and non-contributory pensions by €5 per week (with proportionate increases for qualified adults), based on the projected number of recipients in each year is detailed in the following table.
|
2021
|
2022
|
2023
|
2024
|
2025
|
Total Cost
|
Cost of €5 increase
|
€172.0m
|
€172.8m
|
€189.9m
|
€199.7m
|
€219.7m
|
€954.1m
|
It should be noted that this costing is subject to change in the context of emerging trends and associated revision of the estimated numbers of beneficiaries each year to 2025.