asked the Minister for Social Welfare if there are any plans to reduce the old age pension to 65; and if he will give the projected cost of such a move, taking into consideration the number of people aged 65 who are either on retirement pension, unemployment benefit, disability benefit, unemployment assistance and invalidity pension.
Written Answers. - Old Age Pension Eligibility.
121.
Social welfare retirement pension is payable at age 65 and old age pension, contributory and non-contributory, is payable at age 66. The question of a general reduction in pension age to 65 years will be considered in the context of the Government's intention to publish a framework for a national pension plan. The net cost of a reduction in pension age to 65 is estimated to be of the order of £30 million in a full year at 1985 rates. This estimate takes account of additional expenditure on old age pensions and on supplementary benefits-in-kind (free travel, etc), loss of income tax and PRSI contribution revenue and consequential savings in other social welfare payments.