Buying pension years for career break period

TimeZone

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Hi,

my wife is currently on career leave with the HSE for the past 5 years. Does anyone know if she can buy those years from a pension perspective? Her plan is to actually not return to her job once her career leave has expired.

Thanks,
TimeZone
 
Hi,

my wife is currently on career leave with the HSE for the past 5 years. Does anyone know if she can buy those years from a pension perspective? Her plan is to actually not return to her job once her career leave has expired.

Thanks,
TimeZone

AKAIK, your wife can purchase Notional Service for the years she will be short when she retires or take out a PRSA in the meantime. Although she plans not to return to work, funding these may be tricky. Also, she could take out an AVC plan but these have a bad name at the moment. My own wife took out a PRSA for the same reason but now we are told that the benefit may be slight taxwise as we will be a higher rate taxpayers when we retire. Some info on [broken link removed] . S
 
You should get advice about whether buying back years still represents good value. The advice given to me was that the rates charged to new buyers is not great value, though the rates charged to those who bought in before the price rise (2006?) are still getting good value.
 
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