The State pension currently pays €243.30 per week, or around €12,700 per year.

It is paid to people from the age of 66.  The age at which it’s paid is moving up: it’ll be paid from age 67 if you were born between 1955 and 1960, and from age 68 if you were born after 1960.

The State pension – or State pension (contributory) to give it its official title – is paid in full to people who have sufficient PRSI contributions.  If you have some contributions but not the full requirement, a portion of the pension can still be due to you.

Further information on qualifying for the State pension is available on the Department of Employment and Social Protection website.

By investing €250 a month you could save €17,400 in 5 years

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