Annual retirement pension increase of €378 per child agreed
Wednesday, February 3, 2021 @ 9:39 PM
AN EXTRA payment into State pensions for parents per child will mostly benefit women, but not exclusively, the government has revealed this week.
Everyone who has a child of their own, including an adopted or foster child, will get €378 a year injected into their State retirement pension – a fixed sum per child up to a maximum of four.
Based upon a 12-month income per year, this means when a parent retires, he or she will receive €31.50 for every son or daughter, to a maximum of €126 a month if they have four or more children.
State pensions are, in fact, paid 14 times a year, with a double packet in August and at Christmas, meaning in practice, each pension payment will have been incremented by €27 per child, to a maximum of €108 and twice a year, by €54 for each child, to a maximum of €216.
The additional payment into the pension pot was initially for women only, but the European Court of Justice (ECJ) ruled this was discriminating against men.
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