To my knowledge anyone who is in receipt of a public sector pension is debarred from taking on another public service role
im thinking the benefit of working in the private sector would be to Pay full A rate PRSI to entitle you to claim a state pension at 66.
would 10 years in full A rate get a full state pension or would you have to work longer.....just toying with all the options as Id like a change....
No. You would have to rejoin the Single Scheme (post-2013 entrants) which is not as favourable.your pension is preserved can you then rejoin the pension scheme ......
Is it possible to preserve the PS pension until aged 60 and draw it down then...presumably it wouldn’t be actuarially reduced and could be beneficial to leave it there.
There is another issue, the professional added years scheme. I looked at this, I might get one year added to my pension. This can only be applied for when I reach 60.I projected after tax my own situation, with the actuarial reduction v's 60 (earliest I can retire non-actuarially reduced) my total after tax income to 80 is very similar, deferring to 60 might make very little difference. It could actually be beneficial depending on your tax rate. What makes it unpalatable for me is that the co-ordinated part is not paid till 60, thats the payment that covers off the public sector payment. It might be worth looking in detail at both scenarios.
There is another issue, the professional added years scheme. I looked at this, I might get one year added to my pension. This can only be applied for when I reach 60.
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