Image Source Irish Independent

The government announced that you can now work until you are 70 years old.

Social Protection Minister Heather Humphreys and officials in her department are working on a plan that enable people to continue their working life beyond pension age of 66. 

Five different rates of the state pension are to be paid to workers who retire up to the age of 70 under landmark reforms of the system, the Irish Independent can reveal.

There will be increases in PRSI contributions into the future to pay for the overhaul of the pension scheme.

The current state pension is €253.30 per week for someone retiring at 66, however this new plan would see workers get a higher rate for each year they delay retiring.

While the pension age is set to increase, some politicians can still retire at 50