Rose Conway-Walsh (Mayo, Sinn Fein)
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258. To ask the Minister for Employment Affairs and Social Protection the annual cost of the benefit payment for 65-year-olds; the projected cost over the coming years; and if she will make a statement on the matter. [26766/24]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The Benefit Payment for 65-Year-Olds was introduced in line with the Programme for Government commitment to address the position of people who are required to or choose to retire at age 65 before the State pension age of 66. The payment is designed to bridge the gap for people who retire from employment or self-employment at age 65 until they qualify for the State Pension at age 66.The Benefit Payment for 65-Year-Olds is provided for under Jobseeker's Benefit and Jobseeker's Benefit (Self-Employed) schemes. Estimates are not prepared separately for those age 65 years and are included in the overall scheme costs. There were approximately 4,200 people in receipt of the Benefit Payment for 65-Year-Olds at end May 2024.The average weekly payment value for recipients of Jobseeker's Benefit from January to May 2024 is €247.02. Based on this average payment value, the estimated full year cost to the Exchequer in 2024 for recipients of Benefit Payment for 65-Year-Olds is approximately €53.9 million.The Revised Estimates Volume for 2024 provided overall funding of €454 million for Jobseeker’s Benefit and €10 million for Jobseeker’s Benefit (Self Employed).The Department’s estimates for 2025 will be agreed with the Department of Public Expenditure, NDP Delivery and Reform over the coming months, as part of the annual Budgetary process. As such, it is not possible to provide an estimate for 2025 currently. Likewise, it is not possible to provide estimates for subsequent years. I trust that this clarifies the matter for the Deputy.