People who work until 67 or older could receive higher State pension

People who work until they are 67 or older could be eligible for a higher rate of State Pension.

The government is considering new plans to reward those who retire later in life with a higher weekly payment.

Government leaders met this week to discuss changes to the pension age, however discussions are still in the early stages.

Last week the Taoiseach vowed the State pension age would not go beyond 66, despite previous plans.

There are concerns that the new initiative could be seen as an attempt to raise the pension age via the 'backdoor'.

The State pension age was due to rise to 67 in January last year before the plan was halted.

Fianna Fáil Councillor Michael Sheehan said he would welcome workers having the choice to remain in the workforce for longer in return for a higher pension.

"I think anything that gives opportunities to pensioners to stay [in the workforce], for a host of reasons - be it their wealth of talent, or a lack of numbers or expertise - is certainly welcome.

"In the main, I would welcome it. I think it's a great opportunity for people to remain in the workplace if they choose to do so. And if not, they can retire on a standard state pension."