can xtra 5 years service, i.e 45/60 can be accumulated under Teacher's Superannuation

[Guest126]

Re: Teachers Superannuation

The point is that it is NOT a revenue decision...it is a scheme specific decision what a member will get from the scheme, while at same time the scheme must ensure it is within revenue limits!

 

[G123]

Re: Teachers Superannuation

40/80 plus 1.5 times salary is exactly the same as maximium benefits of 40/60.

That's my understanding also.

I've never heard of a teacher getting a pension of more than 40/80ths and I would say that many teach for more than 40 years.

Isn't NRA for teachers age 65? Unless it has changed in the last few years.

I know Primary School teachers can retire at 55 but this is classed as EARLY retirement.

 

[kildare1]

Re: Teachers Superannuation

am a teacher in the same boat here wondering whether or not to buy notional service. Rang revenue recently as I had worked a number of years before going into tecahing. I was told that as i paid "A" level prsi I wil get both The teachers pension and the state contributory pension. Wasn/t sure about this. Can anyone verify whether this is true or not?

 

[oysterman]

Re: Teachers Superannuation

am a teacher in the same boat here wondering whether or not to buy notional service. Rang revenue recently as I had worked a number of years before going into tecahing. I was told that as i paid "A" level prsi I wil get both The teachers pension and the state contributory pension. Wasn/t sure about this. Can anyone verify whether this is true or not?

It's both true and utterly misleading.

As an A-rate PRSI payer you will get the contributory old age pension but the teacher's pension you will receive will be reduced by exactly the same amount. So you'll end up with the same total pension as your D-rate colleagues.

If you will have less than 40 years service at retirement the fact that you are an A-rate payer will do nothing to make up the shortfall in your pension.

You need to consider your options. I've posted many times about my positive view of notional service in most circumstances but you should also consider AVCs (just not with Cornmarket....please!)