According to Karina Doorley of ESRI, the planned increases in PRSI rates will not suffice to tackle the future deficit in the Social Insurance Fund. This highlights the necessity for comprehensive reform beyond 2028 to ensure sustainability amid demographic challenges.
The report from the Department of Social Protection revealed that the number of state pension recipients aged 85 and older reached 47,921 in 2023, marking a 6.2% increase. This is part of a broader trend reflecting the growing life expectancy and its impact on state spending.
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