My wife is considering a job share - primary teacher - they only offer week on/week off in her school.
So in a given year she'd only be getting 26 PRSI stamps, not 52. This would in turn likely mean a lower State Pension Contributory (SPC) upon retirement.
She is on the pre 2013 scheme, so pension based on retiring at 65 and half final salary.
By my understanding, if she has 40 years service her pension will be SPC + balance paid by employer = 50%
So if final salary of 70K and full PRSI stamps, you get say 15K SPC + 20K employer = 35K annual pension
But if you were missing stamps from Job Sharing your SPC portion would fall to say 14K. But she's still entitled to 50% pension, so would this change to
14K SPC + 21K employer = 35K annual pension
This look right?
So in a given year she'd only be getting 26 PRSI stamps, not 52. This would in turn likely mean a lower State Pension Contributory (SPC) upon retirement.
She is on the pre 2013 scheme, so pension based on retiring at 65 and half final salary.
By my understanding, if she has 40 years service her pension will be SPC + balance paid by employer = 50%
So if final salary of 70K and full PRSI stamps, you get say 15K SPC + 20K employer = 35K annual pension
But if you were missing stamps from Job Sharing your SPC portion would fall to say 14K. But she's still entitled to 50% pension, so would this change to
14K SPC + 21K employer = 35K annual pension
This look right?