The Government is set to introduce five new rates of payments for pensions that will increase by five per cent for every year a person works.
The plans indicate that the Government plan to keep the state pension age at 66, despite recommendations from the Pensions Commission. But those who remain working after this will be given a bonus for each year they continue to be employed.
Micheal Martin previously said people will still be entitled to a pension at 66, however, they will be given “flexibilities and options” to retire later if they choose.
