Should this be 25/40 ?At 55 I will have 25 years service or 25/80
Should this be 25/40 ?
My key question is as I am an A PRSI contributor the Old Age Pension is built into my pension. Does this mean that I could find myself at 55 after 25 years of service only getting circa €50 per week?
I must add that my pension advisor was an independent €200 for about 1 hour man!
Those figures are much better / more enticing. Why would I not be entitled to full supplementary pension if i was entitled to SP???
Sidzer - I just had a look at roughly what you might expect if you stayed to 60 at the same salary, ie, 30 years service. It is a bit better:
Occupational Pension €11367
Supplementary (if eligible) €9325.
This whole area is a complete nightmare to navigate. Is there someone (other than Cornmarket) who knows the area inside out and will give fee based independent advice?
Cornmarket will look at your financial situation without charging you. If you take up any of their services/products, they will then charge you a fee.
I met with an adviser about two months ago and am 100% of when I can (early) retire and I know exactly how I'll be standing financially.
They specialise in public service pensions. The guy I met knew his stuff but I expected a kind of plan by the end of our session.
he said that he thought that the supplementary pension would not be available in future years as they will have very high liabilities
Thanks. My query should be simple enough to deal with; For someone on €75k a year who entered the public service in the year 2000, what age would they need to work until to lock in a pension of €25k pa?
Full pension would be €37,500 at age 60, so I'm guessing that the answer to my query is broadly 53 (80% x 33/80 x €75k).
But does a 53 year old early retiree get the supplementary piece to get him/her up to the right level?
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