Can you explain what you mean or link to the article in question please? I, for one, don't understand your post. Or what "nra" is.I understand government intends making a persons nra less than state pension age illegal from 2024 as per Irish independent a few weeks ago
I understand government intends making a persons compulsory retirement age less than state pension age illegal from 2024 as per Irish independent a few weeks ago. In light of this payment at 65 you quote is very unlikely to stay.Might this be relevant here too?
Payment for people who retire at 65
If you retire at 65, you may qualify for a benefit payment until you reach 66. The payment is similar to Jobseeker’s Benefit, but you don’t need to be looking for work or sign on at your local Intreo centre.www.citizensinformation.ie
Sorry I meant relative to the cash you have on hand!Most of it inherited.
Is approx 400k pension pot considered relatively low? (relative to what?)
One small suggestion I would make here is to draw down €17,750 to make full use of the tax credits while avoiding paying 20% income tax.In your shoes, I would retire the smaller PRB at 62, take the tax-free lump sum and transfer the balance to an ARF. Then draw down €12,500 per annum from the ARF until exhausted.
Why ? Most people I know that are currently retired do not have health insurance and also have complex medical needs, and they all seem to get access to consultants, hospitals etc whenever they need it.When you retire you'll need health insurance.
I agree with you. In the context of the question I was referring to what extra costs you may have. I should have stated 'You may need to pay for health insurance'.Why ? Most people I know that are currently retired do not have health insurance and also have complex medical needs, and they all seem to get access to consultants, hospitals etc whenever they need it.
I do understand the rationale for having it in terms of access and piece of mind etc, but it's just so damn expensive and you're essentially paying for something that you have already paid for, and are fully entitled to. I'm just not sure its money well spent. If you never paid health insurance and just paid for hospital stays, consultants, drugs etc as they came up when you need it, you could never spend the cost of all those premiums year after year.
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