Further to the commitment under the Programme for Government, the Benefit Payment for 65 Year olds was introduced from January 2021 for those who have ceased employment or self-employment and who satisfy the pay-related social insurance (PRSI) contribution conditions. This payment bridges the gap for eligible people who retire at 65 but do not qualify for State Pension until they are aged 66.
The rate of payment is paid at the maximum rate of Jobseekers Benefit which has increased to €208 under Budget 2022 and increases are also paid for qualifying adult and child dependents. A key feature of the payment is that recipients do not have to sign on or partake in activation measures or be available for and genuinely seeking work to avail of it.
At the end of February there were approximately 4,000 people receiving the support.
Where a person who is aged 65 does not the specified contributions for receipt of a social insurance benefit payment they may apply for means tested Jobseeker's Allowance.
I trust that this clarifies the position.