Search results

  1. O

    Public Service Pension - nett amount per fortnight.....?

    Input your details into a tax calculator such as http://services.deloitte.ie/tc/ and you'll get a fairly clear picture. Remember you'll have to pay USC but not PRSI on an occupational pension. Time's running out for making your decision...I think this day fortnight would be your deadline for...
  2. O

    Vintage watch repair (Dublin)

    I have a non-working manual wristwatch that I inherited from my grandfather via my father. It's a Tissot, from the '50s or '60s, I guess. I know it was repaired extensively at some point in the '80s so the workings are not likely to be fully authentic. I'd like to get it repaired (largely for...
  3. O

    Good IT article: "Five ways your State pension benefits may be cut..."

    This is one of those (many) cases where the argument should not be framed around averages. Who cares what the average retiree receives as retirement income? The relevant question is simply: how many retirees will have inadequate income? Public policy should not concern itself with raising...
  4. O

    Part time lecturer pension query

    As has been well covered elsewhere on this site, the phrase "pension related" is Orwellian-speak for "public service" and is payable by all sorts of employees who will never benefit from the gold-plated pension arrangements that legend has all public servants entitled to. That's not good enough...
  5. O

    Exceeding lump sum limit on retirement

    Your scheme provides for a maximum (currently tax free) lump sum of 1.5 x final salary...albeit treatment of any allowances in your salary involves some averaging. The purpose of an AVC is largely to make up entitlements that you miss out on through lack of service. In your above example you...
  6. O

    30 years old no pension

    Brendan always takes a bit of flak when he runs this line. A couple of thoughts: Investment spread: a clinching argument against Brendan's "house first, then pension" strategy. Or is it? is it not the case that residential property is a bellwether for exactly the same investment trends that...
  7. O

    Should I buy years or contribute to an AVC/PRSA?

    AVC benefits are tied in with main scheme ones ("additional") and can only ever be accessed at the same time.
  8. O

    Confused on public service pension

    Scam? How exactly? In what circumstances do you you think rendering 2 pensionable years of your working life unpensionable could be characterised as a smart financial move?
  9. O

    PRSA charges feedback please?

    Your point is well made, Steven. In an era of increased employee mobility it's very difficult to persuade a young worker, who may only intend staying in a particular job for a year or two, to join even employer funded schemes if the ultimate effect is going to be a multiplicity of small pension...
  10. O

    Case study Break in teaching - Now classed as new entrant

    I'm surprised by this. My understanding is that substitute teachers only started to have pension deductions taken from them in Jan 2005, some time after the OP's wife commenced substitute service and only six months before she went back to college...
  11. O

    PRSA charges feedback please?

    This is something that bugs me; specifically that, unless I'm mistaken, you can't take PRSA (AVC) benefits until you take your main scheme benefits. For example: worker wants to retire early but would suffer actuarial reduction on main scheme benefits if he/she draws them down before normal...
  12. O

    Case study Break in teaching - Now classed as new entrant

    Was your wife a member of the superannuation scheme prior to June 2005? From 2005-2006 was she on a career break or on secondment? Did she resign from the position she had in 2005? Did she return to the same position in Sept 06 that she had left in June 05? If so, what had happened to that...
  13. O

    What to do with PRSA now have civil service pension

    If you work to retirement age you will qualify for a full state (contributory) pension. But it will be incorporated into your public service pension so you won't see the benefit of it. That's one of the reasons SB is correct that you should leave your AVC invested and, in time, consider taking...
  14. O

    Converting public service AVC to a PRSA

    Cornmarket? Sounds scandalous to me but you'd need to take advice on whether this sort of gouging is standard in the industry. The question I'd ask you, however, is why do you want to do this? If you thought/were advised that that this AVC product was appropriate for you then what has...
  15. O

    Trackers other lenders

    I'm not entirely clear how a chorus of AIB customers will help your situation. You say that you've had a complaint with the Ombudsman for a number of years. You really need to put pressure on the Ombudsman. I like your case (on the evidence you've shared here) but I don't think sitting back and...
  16. O

    Trackers other lenders

    I don't have a dog in this fight but I think the OP may have a stronger case in equity than you think. Clearly this is only the summary sheet of the mortgage offer and there was presumably supporting documentation furnished with it which might strengthen the bank's case. However, the OP was...
  17. O

    Maximising Tax Free lump sum

    I have a notion it's the average of the highest 3 in your last 10. But you need to get advice on this. Unless your AVC was taken out execution-only, the seller is the first person you should contact.
  18. O

    Teacher AVC

    I'm not advising OP buy any more products off them, merely that s/he gets the value of what's already been paid for. They do know the PS pension rules well by all accounts and I've heard of them being really good in these situations. It's hard to blame them for the ludicrous terms the PS unions...
  19. O

    Teacher AVC

    If your AVCs are with Cornmarket, which is most likely, make sure to arrange a meeting with one of their advisors who should be able to walk you through this stuff. God knows you've paid them enough over the years.
  20. O

    Pension preservation order?

    Make sure you contact the HSE immediately because they will have to adjust your aunt's contribution under Fair Deal and I don't think they'll retrospectively compensate her for the decline in her income. Be very wary of running up legal expenses in this matter: under Fair Deal your aunt will...
Top