Dáil Éireann Debate, Tuesday - 3 October 2023
391. Deputy Richard Bruton asked the Minister for Social Protection the current estimated date for the commencement of the provision which would see a larger pension for those who work beyond age 66 years; if phasing arrangements are planned for introduction of same, and if she will outline the detail. [42136/23]
View answerIn September 2022, I announced a series of landmark reforms to the State Pension system. The measures are in response to the Pensions Commission’s recommendations and represent the biggest ever structural reform of the Irish State Pension system.
One of the measures announced is the introduction of flexibility to the State Pension (Contributory), allowing a person to defer access to their State Pension (Contributory) up to the age of 70 and receive an actuarially based increase in their weekly payment rate.
A person with less than 40 years contributions can use the period between 66 and 70 years of age to build up additional entitlements and, if a person has less than 10 years PRSI reckonable paid contributions, they may be able to use this period to establish entitlement.
As the State Pension age remains at 66 years, a person can still draw their State Pension (Contributory) at State Pension age.
Department officials are currently working on these reforms, including the drafting of legislation and development of administrative and IT systems. I expect to bring the legislation required to introduce the flexibility to the State Pension (Contributory) before the Oireachtas soon, with the scheme being fully implemented for those who reach State Pension age (66) from Q1 2024.
I hope this clarifies the matter for the Deputy.
