State Pension Age stays at age 66
As had already been announced by Government, legislation was passed to keep the State Pension age at 66. There is now no provisions in legislation to trigger a future increase of the State Pension age to 67 from 01/01/2021 and to 68 from 01/01/2028.
New legislation will need to be passed if the State Pension age is to rise in the future.
However, in order to consider this further, the Government has established a Commission on Pensions & the Commission will examine the sustainability and eligibility issues in respect of State Pension arrangements. The Commission is due to report by 30 June 2021 & the Government have said they will make their decisions on these issues by the end of 2021.
If you have nay queries in relation to your retirement planning, contact Eolas Money
to book your Retirement Benefits Review
to book your Retirement Benefits Review