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Budget Emergency Measures Protect Older Persons This Winter But €12 Increase in the State Pension is a Cut in Spending Power

(Tuesday 27 September 2022) Age Action welcomes emergency measures in Budget 2023 to help older persons cope with the cost of living this winter. The announced double pension payments and the electricity credits are a welcome recognition by the Government that many older persons are struggling with basic costs like food, energy and running a car in rural Ireland. In addition, lump sum payments for those living alone or in receipt of Fuel Allowance will target those who are most at risk of poverty.

€12 increase in the State Pension would be a Political Choice to Cut the Living Standards of Older Persons

(Monday 26 September 2022) A nominal increase of €12 on the rate of the full contributory State Pension [from €253.30 to €265.30] would leave older persons €11.68 per week worse off than they were in terms of the spending power of the State Pension in January 2022 says Age Action, Ireland’s leading advocacy organisation on ageing and older persons, reacting to reports that the Government intends to increase the State Pension by €12 in Budget 2023.

Older Persons Face Cost of Living Crisis due to Loss of Spending Power of the State Pension

(16 August 2022) The savings and incomes of older persons could lose 15-20% of their spending power by the end of 2023 putting many older persons at risk of poverty unless the Government takes action in Budget 2023 warns Age Action, Ireland’s leading advocacy agency on older persons and ageing.

 

Age Action Calls for €23 Increase in the State Pension

Budget 2023 Credit Frederica Aban

(Tuesday 26 July 2022) 

Budget 2023 – No Ordinary Budget for Extraordinary Times

Age Action Calls for €23 Increase in the State Pension

Age Action, Ireland’s leading advocacy organisation on ageing and older persons, is calling for a €23 increase in the State Pension saying that Budget 2023 cannot be an ordinary budget. Age Action argues that Budget 2023 needs to deliver an evidence-based increase in the State Pension that is poverty-proofed and equality-proofed – a €23 increase in the State Pension is the minimum amount required to maintain the State Pension’s spending power. The reality of high price inflation is that the full rate contributory State Pension will lose €22.80 in spending power in 2022 and will further lose spending power in 2023 as inflation will still be high.

Age Action Calls for Stakeholder Engagement on the State Pension Proposals

(Saturday 23 July2022) 

Age Action welcomes the Taoiseach’s announcement of a plan to allow flexible access to the State Pension, but care is needed to ensure that the proposals are fair and do not reinforce existing inequalities in the system. Extensive stakeholder engagement is now needed on these new proposals.

 

Age Action Welcomes Decision by AIB Not to Proceed With Cashless Branches

(Friday 22 July 2022) Responding to AIB’s announcement on Friday that they will not proceed with their plan to remove cash services from 70 branches, Celine Clarke Head of Advocacy and Communications at Age Action said “Cash is king for people budgeting on low incomes or who are not online. Limiting their access to their cash puts those people at risk of debt. Forcing people to do their business online puts some older persons at risk of financial elder abuse." 

Age Action Welcomes An Taoiseach’s Call for AIB to Reconsider Cashless Branches

(Thursday 21 July 2022) 

Age Action welcomes the high-level intervention today by the Taoiseach calling for AIB to reconsider and reflect on its announcement that 70 branches will become “cashless”.

Dr Nat O’Connor, Senior Public Affairs and Policy Specialist at Age Action said “Age Action has been contacted by many older persons who are dismayed that they will lose access to cash services in their local area. We know that many people manage their income through cash, literally putting aside amounts of money to cover different expenses.  For the many people not using the internet, it is just not possible to keep track of cashless transactions and there is a risk of getting into debt that people just can’t afford when living on a modest State Pension. There is also a genuine risk of financial elder abuse for those people who are not online if they are forced to seek help to manage their financial affairs.”

 

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