The State pension should be removed from the Government’s annual budgetary process to leave it “less open to political pressure”. If average earnings in the economy go up, so should the pension by the same proportion, said the society. But if annual earnings go down, the State pension should not be reduced. The society also said it remained in favour of gradually increasing the age, currently 66, at which retirees became eligible for the State pension. It warned that younger workers were less engaged on the issue of pensions and may be less likely to contribute to the consultation.

Source: The Irish Times March 12, 2021 04:55 UTC