asked the Taoiseach if he will state the estimated amount now required to equal the old age pension of 5/- a week which was first paid in January, 1909.
Ceisteanna—Questions. Oral Answers. - Present Equivalent Value of 1909 Old Age Pension.
2.
While the appropriate series of retail price index numbers for this country cannot be extended to periods before July, 1914, the available evidence suggests that between 1 January, 1909, when old age pensions became payable, and July, 1914, retail prices rose by about 5 per cent. On the assumption that this figure is correct, it may be stated that a sum of 5/- in January, 1909 would purchase at retail the same quantum of goods and services (including rent) as would 24/7 at mid-February, 1959.