I was looking at this
I think it is possible to get a contributory old age pension with the following conditions.
1. You must have paid some A class stamps before the age of 55.
2. When you retire at 60, if you get employment the previous 2 years D stamp convert to A.
3. You need to get stamps between 60 (or when you retire) 66 - 70, These can either be A stamps through employment or S stamps by earning over 5,000 per year in an ARF or through rental income, or a mixture of both to a total of at least 5K, you pay 500 for these stamps (The person has a rental property and this would meet the 5K earning.
Can you earn S stamps when working in PS. If you go on a shorter working year and pay less stamps and also pay prsi on the rental income for the same year.
The amount of payment is based on the average number of stamps per year from when you first earned stamps to when you draw down the OAP. This could very much limit the payment.
Just wondering am I missing anything, or. have I got the wrong end of the stick.
I would be interested in any advisors who would help with this.
I think it is possible to get a contributory old age pension with the following conditions.
1. You must have paid some A class stamps before the age of 55.
2. When you retire at 60, if you get employment the previous 2 years D stamp convert to A.
3. You need to get stamps between 60 (or when you retire) 66 - 70, These can either be A stamps through employment or S stamps by earning over 5,000 per year in an ARF or through rental income, or a mixture of both to a total of at least 5K, you pay 500 for these stamps (The person has a rental property and this would meet the 5K earning.
Can you earn S stamps when working in PS. If you go on a shorter working year and pay less stamps and also pay prsi on the rental income for the same year.
The amount of payment is based on the average number of stamps per year from when you first earned stamps to when you draw down the OAP. This could very much limit the payment.
Just wondering am I missing anything, or. have I got the wrong end of the stick.
I would be interested in any advisors who would help with this.