Thanks for clarifying S Class ! Invaluable as ever!
So, she could improve her position as follows;
- currently is in Class D employment and wants to retire at 60
- At 60 will also have 86 Class A 'stamps' from a previous job years ago
- Take out a PRSA AVC plan to build up at least 60k by age 60 (is age 55 at next birthday)
- Take 15k lump sum and put remainder 45k into an ARF
- Withdraw 5k per year, 60 to 69 - This creates 52 x 9 = 468 Class S stamps
- Take up a Class A job temporarily to gain 2 x 52 Class A stamps via 'change of status' : 2 x 52 = 104
- By age 70 will have 86 + 468 + 104 = 658 reckonable contributions and so would be entitled to a pro-rata State Contributary pension.
Is that a do-able plan ?
What would the pro-rata pension be worth ? Is it 658/2080 (31%) , [I guess e337.20 x 0.31=106 per week, which is just over 5.5k per year, so essentially replacing the ARF?]