Pension Age

Labour will maintain the State Pension age at 66, as older workers and the economy are not yet ready for working longer lives. Many of those now reaching the age of 66 have already made 45 years of social insurance contributions, and many are affected by mandatory retirement at the age of 65. We are living longer, and we do need to prepare for longer working lives, but we have a sufficient surplus in the National Insurance Fund that we can afford to delay the move to the retirement age to 67. 

The pension age increase was agreed by the Fianna Fáil-Green government with the Troika, and passed into law in 2011 when the country was nearly bankrupt. The increase to 67 has not happened yet, and can be stopped now as the country is in a different place than 2011 with more people at work and the Social Insurance Fund is in substantial surplus.

It is simply unacceptable that people would be expected to sign for unemployment when they should be retired and Labour is committed to stop that happening.

At our conference in November, the Labour Party was the first to call for rise in pension age (to 67 in 2021) to be halted. You can watch the video here.