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Landmark pension move 'puts power back into working people's hands'

Sep 20, 2022 12:09 By News Northern Sound
Landmark pension move 'puts power back into working people's hands' Landmark pension move 'puts power back into working people's hands'
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'Long-term carers will also be provided with a pension for the first time'

Pensioners across Cavan and Monaghan could see their State entitlements increase after a landmark announcement today.

Local Minister Heather Humphreys says a new 'flexible' system will be introduced that will afford people the choice to work until the age of 70. Long-term carers will also be provided with a pension for the first time and the move represents the biggest ever structural reform to the country's State Pension System

Minister Humphreys said that under the new model, people will continue to be able to retire and draw their pension at 66 exactly as they can today. In addition to that, power is being put back in people's hands giving them choice in terms of what best suits their own circumstances.

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"The State Pension system is extremely effective at ensuring that our pensioners do not experience poverty," said the Minister.

"The decisions taken by Government today will ensure that this remains the case for both current pensioners and today's young workers - tomorrow's pensioners. I would like to thank the Chair of the Pensions Commission, Josephine Feehily and all of the Commission members for producing the report that set out the evidence-based options and recommendations for reform."

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