Irish State Pension v Household Charge

Jose1

Let's compare the 100 Euro Household charge to the latest budget proposals in reforming the State Pension!

It's my understanding that contributions paid during an individual's working life span will now determine the precise payment due to that person. I appreciate that this has always been pretty much the case, but the only real difference, in the past, was a fiver or so between a contributory pension when compared to a non contributory one.

These new chances will see the lowest entry at 92 Euro per week rising to 230 Euro per week for an average of 48+ contributions per year. Under the new rules, if a person were to retire at aged 66 and live until 80 years old they would expect, at the higher rate, to receive 167,440 Euro, where as a similar person at the lower rate would receive 66,976 Euro, which is 100,464 Euro less:eek:.

It appears to me, that the Government are happy with the impact and subsequent uproar the 100 Euro Household Charge has received, because it has acted as a smoke screen for the above.

Most of us on here will now also have to wait one or even two years longer before we receive the State Pension, as the qualifying age will soon be pushed out to 67, 68 and beyond. My personal situation will mean that I will now receive my State Pension at aged 67, where a few guys I know will receive it a year earlier at 66. In real terms I will lose out one year, which in turn, adds up to a massive 11,960 Euro taken from my pocket:mad:.

Strange thing is, I don't hear a whole lot of complaint about it:rolleyes:.

cee_jay

Not a State Benefits issue. Thread closed.
OP your thread may be more suited to Politics or Irish Economy forum, however, I am not a frequent contributor to these forums, so perhaps read the forum charters there to see which one is more suitable.