Dáil Éireann Debate, Thursday - 25 April 2024
233. Deputy Bernard J. Durkan asked the Minister for Social Protection the extent to which satisfactory provision continues to be made for those retiring at 65 years of age; the extent of any recent progress in this area; and if she will make a statement on the matter. [18709/24]
Amharc ar fhreagraThe Benefit Payment for 65-Year-Olds was introduced in line with the Programme for Government commitment to address the position of people who are required to or choose to retire at age 65 before the State pension age of 66. The payment is designed to bridge the gap for people who retire from employment or self-employment at age 65 until they qualify for the State Pension at age 66.
This support is provided for under the Jobseeker's Benefit or the Jobseeker's Benefit (Self-Employed) scheme. To be eligible for the payment a person must satisfy the qualifying conditions of the scheme including the relevant PRSI social insurance contribution requirements. There is no requirement to sign-on periodically with this particular scheme.
A person who does not meet the conditions for Benefit Payment for 65-Year-Olds may be eligible for the means-tested Jobseeker's Allowance scheme.
Since January 2024, a person can opt to defer State Pension (Contributory) until they are age 70 years of age; however, a person who retires at age 65 will continue to be eligible for the Benefit Payment for 65-Year-Olds until age 66 provided that they satisfy the qualifying conditions.
I trust that this clarifies the position for the Deputy.
