New benefit payment for 65-year-olds

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New benefit payment for 65-year-olds

New benefit payment

Fianna Fáil TD for Cavan/Monaghan and North Meath, Niamh Smyth, has welcomed the introduction of a new benefit payment for those aged between 65 and 66 who have ceased employment or self employment. 

Eligibility for the Benefit Payment for 65 year olds is determined by a person’s PRSI contributions.  

Deputy Smyth commented, “Applications for this new benefit can be made when a person reaches 65 years of age.  This payment will continue until the person reaches pension age provided, they continue to meet the eligibility conditions.  

“For many people, due to their contract of employment, retiring at the age of 65 is their only option. I have called on the Minister on numerous occasions to sign regulations to formally remove the requirement for 65-year olds to be actively seeking work and to ‘sign on’.  

“This new benefit is a specific payment targeted at people in the year leading up to when they reach pension age which means a person in receipt of this payment will no longer be required to be available for full-time work and they will not be required to sign on the Live Register.  

 

“The rate of payment is €203 per week, which is the same rate as the jobseeker’s benefit, with an increase for dependants, if eligible. I’m encouraging all those who are eligible to apply for this payment via www.MyWelfare.ie,” conclud ed Deputy Smyth.