The recent adjustments to the pension system include a notable increase of €8 per week, with a further raise to €15 in 2024, translating to an annual boost of €416.
The ongoing tax exemption for individuals aged 61 and above receiving pensions will maintain its gradual progression, reaching 80% in 2025 (up from 60% in 2024), with a set cap in place.
Moreover, the revision of pension bonus rates for those lacking sufficient social security contributions will result in varying increments ranging from €550 to €1,000.
Additionally, the grant for elderly individuals aged 75 to 79 who reside in their own homes or in self-funded care facilities will see a raise from €300 to €350.
Furthermore, the Carer at Home Scheme will see a significant increase of €500, bringing the total annual support to €8,500.
These adjustments aim to enhance the financial security and well-being of pensioners and caregivers, reflecting a commitment to supporting our aging population.
