In 2026, a meer 19 years from now, one quarter of Irish people will be over the age of 65. The figures from the CSO (www.cso.ie) have shown that the number of people over 65 has increased by 54,000 in the last 10 years. This in effect means that three people will be financing one retired person. Is this sustainable ? Is 65 too young for people to be ‘forced’ into retirement ?
Retirement age in Ireland
Although the retirement age in Ireland is not set by law, many public contracted employees have a compulsory retirement age of 65. There are some professions, i.e. Garda , GPs & judiciary who have a mandatory retirement age.
Increasing cost of Retirement
With increasing life expectancy in Ireland, 80 for males and 83 for females, the cost of financing the retired community is set to increase. And then there is the fact that the cost of living in Ireland will only increase. These facts will insure that this topic will be a contentious one for the people of Ireland for many years to come.