Dr Strangelove
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Will be very soon.
Social Welfare acts have to be passed and signed by President so increases can be paid 01 January onwards.
Deferring your State Pension (Contributory) - break even point is age 88
- Thread starter TheJackal
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Social Welfare acts have to be passed and signed by President so increases can be paid 01 January onwards.
I was wondering if a younger spouse would be able to claim an increase for a qualified adult based on my contributory state pension while deferring her own contributory pension until age 70. She will not have the full 2080 credits even by age 70 so was thinking that she would also add credits during deferral either by taking ARF distributions of 5K or by making voluntary contributions. I think she should be able to meet the associated income criteria based on her income/assets. It so it seems like deferring would be highly beneficial to people in such situations.
The 2026 State Pension (Contributory) rates are here
| Age when you start to claim | Maximum rate |
| Age 66 | €299.30 |
| Age 67 | €313.70 |
| Age 68 | €328.90 |
| Age 69 | €345.70 |
| Age 70 | €363.90 |
| 2026 State Pension (Contributory) Rates | |||||
| Break Even age now at 87/88 | |||||
| Age when you start to claim | Maximum rate | per year | diff v 66 | ||
| Age 66 | €299.30 | €15,617.47 | €0.00 | ||
| Age 67 | €313.70 | €16,368.87 | €751.39 | ||
| Age 68 | €328.90 | €17,162.00 | €1,544.53 | ||
| Age 69 | €345.70 | €18,038.63 | €2,421.15 | ||
| Age 70 | €363.90 | €18,988.30 | €3,370.83 | ||
| Age | 66 | 67 | 68 | 69 | 70 |
| 66 | €15,617.47 | €0.00 | €0.00 | €0.00 | €0.00 |
| 67 | €31,234.95 | €16,368.87 | €0.00 | €0.00 | €0.00 |
| 68 | €46,852.42 | €32,737.73 | €17,162.00 | €0.00 | €0.00 |
| 69 | €62,469.90 | €49,106.60 | €34,324.00 | €18,038.63 | €0.00 |
| 70 | €78,087.37 | €65,475.46 | €51,486.01 | €36,077.25 | €18,988.30 |
| 71 | €93,704.84 | €81,844.33 | €68,648.01 | €54,115.88 | €37,976.60 |
| 72 | €109,322.32 | €98,213.20 | €85,810.01 | €72,154.50 | €56,964.91 |
| 73 | €124,939.79 | €114,582.06 | €102,972.01 | €90,193.13 | €75,953.21 |
| 74 | €140,557.27 | €130,950.93 | €120,134.01 | €108,231.76 | €94,941.51 |
| 75 | €156,174.74 | €147,319.79 | €137,296.02 | €126,270.38 | €113,929.81 |
| 76 | €171,792.21 | €163,688.66 | €154,458.02 | €144,309.01 | €132,918.11 |
| 77 | €187,409.69 | €180,057.53 | €171,620.02 | €162,347.63 | €151,906.42 |
| 78 | €203,027.16 | €196,426.39 | €188,782.02 | €180,386.26 | €170,894.72 |
| 79 | €218,644.64 | €212,795.26 | €205,944.02 | €198,424.89 | €189,883.02 |
| 80 | €234,262.11 | €229,164.12 | €223,106.03 | €216,463.51 | €208,871.32 |
| 81 | €249,879.58 | €245,532.99 | €240,268.03 | €234,502.14 | €227,859.62 |
| 82 | €265,497.06 | €261,901.86 | €257,430.03 | €252,540.76 | €246,847.93 |
| 83 | €281,114.53 | €278,270.72 | €274,592.03 | €270,579.39 | €265,836.23 |
| 84 | €296,732.01 | €294,639.59 | €291,754.03 | €288,618.02 | €284,824.53 |
| 85 | €312,349.48 | €311,008.45 | €308,916.04 | €306,656.64 | €303,812.83 |
| 86 | €327,966.95 | €327,377.32 | €326,078.04 | €324,695.27 | €322,801.13 |
| 87 | €343,584.43 | €343,746.19 | €343,240.04 | €342,733.89 | €341,789.44 |
| 88 | €359,201.90 | €360,115.05 | €360,402.04 | €360,772.52 | €360,777.74 |
I have been wondering about that also. I suspect that if they don't apply for the COAP @ 66 the qualifying adult increase will just continue.
That should be possible. Great idea!
It is possible to qualify for benefits after age 66, Jobseekers benefit for example.
Deferring your State Pension (Contributory) - break even point is age 88
At the moment it doesn't look like the TCA is applied at all when calculating the survivor's pension rate. In my case as a voluntary contributor who will make contributions up until my 66th birthday it looks to me like there's no point in deferring. I should just take the reduced pension as soon...
www.askaboutmoney.com
The rates for deferral at age 69 and 70 are now included
Deferring your State Pension (Contributory)
You can start to claim your State Pension (Contributory) at any age between 66 and 70. This page explains who can defer (delay) their State Pension (Contributory), rates for different age groups, and how to apply.
www.citizensinformation.ie
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Here it says "If you are getting another social welfare payment during the deferral period, your SPC age rate will be stepped back by the length of time (in weeks) you are on the social welfare payment." . . so if the qualified adult increase is viewed as a welfare payment to the younger spouse then I expect that they wouldn't get an increased rate of pension based on age, though would be able to collect more PRSI during that time.
Methinks the qualified increase probably wouldn't be viewed as a welfare payment to the younger spouse and that it would all probably work out, but it seems trappy.
Yes I don't think that it could be considered as a payment to the younger spouse.
The younger spouse is not allowed PAYE tax credits on the payment because under DSP rules the payment is made to the other spouse. This other spouse cannot claim extra PAYE tax credits on the extra payment either, because these are not transferable between the partners.
From a taxation and DSP position it is a payment to you.
The increase for a qualified adult will appear in your welfare payments record and in your earnings for PAYE.
The direct payment to your spouse is just a diversion of some of your Pension entitlement to your spouse.
As a couple you could be disadvantaged by this method of making you liable for the taxation of the increased payment.
If your spouse was liable for taxation they could make use of their own PAYE tax credits to possibly reduce or fully eliminate any tax on the increased payment.