Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

You’re a mar­ried cou­ple who are both aged 76. You both worked all your lives and re­tired in 2006. You each get a pri­vate pen­sion of €10,000 a year. You also both qual­ify for the full State con­trib­u­tory pen­sion. You have two adult chil­dren who no longer live at home. You own your own home but this is your only as­set.

As a cou­ple, you will be €4,442 bet­ter off un­der Bud­get 2018 than you were in 2006, ac­cord­ing to Jane Devlin, se­nior man­ager with PWC. Your to­tal in­come from the State and pri­vate pen­sion will come to €43,245 next year af­ter tax — com­pared to €38,823 at the height of the boom. That means you’re €85 a week bet­ter off un­der Bud­get 2018 than you were in 2006.

The main rea­son for the jump in your af­ter-tax in­come are the in­creases in the State pen­sion over the last few years. “There has been a con­sid­er­able in­crease in the weekly State Pen­sion since 2006,” said Devlin. “Un­der Bud­get 2018, this cou­ple will ben­e­fit from the €5 weekly in­crease in the State pen­sion from the last week of March 2018.”

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