Donohoe: Delaying decision on State pension age will hit public finances

There are currently around four people of working age to support those 65 and over but this will drop to two by 2050

Minister for Finance Paschal Donohoe said: "We have a very young population at the moment and as we move through the coming years and coming decades, the age profile will shift and that will have an impact on all of our public services."

Delaying a decision on the State pension age could hit public finances in the years ahead, the Finance Minister has warned.

Paschal Donohoe has today published a report which puts forward a model of linking the State pension age to life expectancy as a way of significantly reducing the cost burden on the taxpayer.