Contract V's FTE

I'm thinking of moving from a full time permanent job to a contract position. The contract position is for 1 year. I've been in the FTE role for 8 years.
Anyone got any advise on what I should look out for before the move?

Need more info in order to advise....

What industry are you in?
Will you be setting up a limited company or sole trader?
Will you be contracting for the company who you have previously been employed by?
If not will you be contracting directly to a company involved in the business or through an agency?
Do you know what sort of rate you can expect from the contract position?

most contracts dont have provisions for health insurance
so get this sorted as well , u will need to set up your own private health insurance yourself

Although it might sound not relevent if u are in good health now , it is worth checking out

i would'\nt know much about contract work and entitlements but the citizens advice bureau is good place and oasis.ie gives advice too

Pension? Holiday pay? Sick pay? Income protection insurance? Social insurance? What if contract isn't renewed? Pay - would it be more or less? Will you have to make your own returns to the Revenue?

Loss of PRSI related benefits, loss of JS benefit, illness benefit.

Tread carefully.

Thanks for the responses.

I would have to set up a limited company and insure myself, pay taxes, PRSI, pension, etc. The extra pay would cover these costs but I would loose out on the job security.

The main advantage financially is that I could load up my pension, I'm currently restricted to 20% of my earnings. As a self employed person there are no pension restrictions.

Main problem for me is the lack of training or advancement available as a contractor and also the lack of holiday pay.