Those who work until the age of 70 will benefit from a higher state pension of 315 euro a week.
The new measure to be unveiled by Social Protection Minster Heather Humphreys today, is aimed at keeping more people in work for longer and ending the political row over retirement age.
According to the Irish Independent those who leave work at 66 will get the current weekly rate of 253 euro, rising to 266 euro at 67, 281 euro at 68 and 297 euro weekly if you retire at the age of 69.
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The highest weekly rate will apply to those who remain in work until the age of 70.
It's set be approved by cabinet today and the Minister aims to have the new scheme in place by 2024.
