Strong pension cover for a more comfortable retirement
Labour will ensure that older people have secure incomes to support them in their retirement.
In Government, Labour has protected vital supports for older people including the State Pension, Free Travel Pass, Living Alone Allowance and free TV Licence. Budget 2016 increased the State Pension and paid a 75% Christmas bonus to pensioners.
Our plan for the next five years:
- Increase social welfare payments for older people by at least €5 each year to bring the State pension to €260 by 2021
- Introduce a new occupational pension scheme to provide workers with a more secure and dependable retirement package
- Provide flexible retirement options for those who want to stay at work