From January 2024, individuals will have the option to defer the start date of their State Pension Contributory between the ages of 66 and 70. This means they can choose to claim their pension at any time within this age range.
The State Pension Contributory is available to those who are at least 66 years old and have made sufficient PRSI contributions.
The reason you will consider deferring the start date of your State Pension (Contributory) is because of the following reasons:
During the deferral period, you can continue working and contributing to the Pay Related Social Insurance (PRSI), which can help you either increase your personal rate of payment or meet the qualifying criteria of having at least 520 contributions (equivalent to 10 years) for the State Pension.
By deferring, you can qualify for the State Pension if you were not eligible at age 66.
You can receive a higher rate of State Pension than you would have if you started receiving it at age 66.