Pulling plans to increase the State pension age will cost the incoming government up to €470 million a year, according to Government’s own figures, Fianna Fáil has said. The comments come as political parties come under pressure from voters over plans to raise the State pension age to 67 from next year and to 68 from the start of 2028. Taoiseach Leo Varadkar said over the weekend that Fine Gael would reintroduce a transition pension if returned to power. It was abolished in 2014 when the state pension age was raised to 66. “There is a pension time bomb, saying the plan to increase the age at which people get the state pension was in place “because we need to ensure sustainability”.

Source: The Irish Times January 20, 2020 14:55 UTC