I joined Public Service in 2000. Am paying Class A PRSI, with a compulsory retirement age of 65. I want to plan possible early retirement in the next few years but no one can tell me exactly what my pension will be.
I had 8 years previous CS employment in the 80's which is also reckonable service + 14 years since 2000 and I have 13 years notional service purchased to date. If I retire at age 63 the Pensions Modeller tells me I will receive a "pension of €9,942 and I may also be entitled to a Social Welfare contributory Old Age Pension from age 66, currently €12,017.05 per annum. If through no fault of your own you fail to qualify for a Social Welfare benefit, you may be entitled to a supplementary pension."
My questions are
1. Will the CS pay a supplementary pension between 63 and 66 years of age?
2. How much will it be?
3. Will it be related to my entitlement of COAP.
I won't be entitled to full OAP as I don't have an average of 48 contributions per year over my working life. The DSP can't tell me what OAP I will be eligible for as it's too far away and to contact them nearer to date of eligibility.
Has anyone in a similar situation already retired from the Public Service and how was their pension calculated.
I had 8 years previous CS employment in the 80's which is also reckonable service + 14 years since 2000 and I have 13 years notional service purchased to date. If I retire at age 63 the Pensions Modeller tells me I will receive a "pension of €9,942 and I may also be entitled to a Social Welfare contributory Old Age Pension from age 66, currently €12,017.05 per annum. If through no fault of your own you fail to qualify for a Social Welfare benefit, you may be entitled to a supplementary pension."
My questions are
1. Will the CS pay a supplementary pension between 63 and 66 years of age?
2. How much will it be?
3. Will it be related to my entitlement of COAP.
I won't be entitled to full OAP as I don't have an average of 48 contributions per year over my working life. The DSP can't tell me what OAP I will be eligible for as it's too far away and to contact them nearer to date of eligibility.
Has anyone in a similar situation already retired from the Public Service and how was their pension calculated.