A
angelface
Guest
I will be 65 in Nov 2011 with 44 years teaching service. I was a teacher member of the Christian Brothers from the years 1965-1978 with one year out of service (back in college). I have been told that because the Brothers did not receive salaries in respect of the teaching posts in schools but received CAPITATION FUNDING based on student numbers that 35,000 euro will be removed from my lump sum on retirement because of this.
- Can anyone explain why this is so and how this sum was calculated please?
- Is it the case that religious orders did not pay pension contributions in respect of members of the religious orders?
- Is the amount calculated on years service at today's rates or is it calculated at the rates of pension contribution for the relevant years?
- Are the years for pensionable service and contributions calculated back from retirement date or calculated forward from year of start of service?
- Is the possible that the potential shortfall in lump sum is recoverable by a last minute AVC contribution? Thank you.