The following is an interesting link to the best and worst State pensions from a number of jurisdictions across the world.
Very interestingly, Ireland ranks highest amongst the 37 countries compared for Adequacy for our State pension, i.e. the level of pension for basic needs, Ireland is the top performer. However, like almost everywhere else, because of an aging population and provisions in place to manage this long term, we rank much poorer, coming in 27th place.
Although it is very unpopular, it should be understandable for the Government to want (have to) to increase the pension age to 67 and further still in years to come. The alternatives are to increase taxes or reduce pension benefits, both again of which will be just as unpopular. Certainly something will have to be done sooner rather than later, there are no choices.
Link as follows – Click Here