Yes.Do employer contributions count towards the 520?
38? I’ve read over €352 for employee contributions but I see below that employer contributions might still count…No. 2 - AFAIK, if you earn more than 38 per week, you get a SI conbtribution.
38? I’ve read over €352 for employee contributions but I see below that employer contributions might still count…
Thanks, @Gordon Gekko but could you clarify “covenants from adult children”? Not a term I’m familiar with.There are a nunber of relevant issues and opportunities.
- The PRSI/State Pension issue
- Greater longevity
- Less tolerance for investment risk, so often smaller retirement pots
- ‘Rent a Room’ in retirement (€14k tax-free)
- Downsizing
- Covenants from adult children
- Divorce/separation
- Retiring overseas for a cheaper lifestyle
That’s a helpful clarification plus a very useful table, thank you.I understand your confusion.
If you earn less than 352, you don't pay PRSI, but you are still credited with a contribution.
You need to earn 38 per week to get a contribution
(It's a great country, you could earn just 100 per week, never pay a penny in PRSI, but you still accumulate contributions)
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If you earn at least 38 euro you get a full rate paid Prsi contribution. This is not credited Prsi. It is counted in order to achieve the 520 full rate paid contributions for qualification for the state pension.If you earn less than 352, you don't pay PRSI, but you are still credited with a contribution.
You need to earn 38 per week to get a contribution
(It's a great country, you could earn just 100 per week, never pay a penny in PRSI, but you still accumulate contributions)
Sorry, I didn't mean credited in the sense of "credited conts", sorry, that was confusing. I meant you are given a contribution.If you earn at least 38 euro you get a full rate paid Prsi contribution. This is not credited Prsi. It is counted in order to achieve the 520 full rate paid contributions for qualification for the state pension.
A person earning 100 euro per week, generates a Prsi contribution of 8.80 euro which is paid by their employer.
Children can transfer up to 5% of their income to their elderly parents each year. It can make sense tax-wise.Thanks, @Gordon Gekko but could you clarify “covenants from adult children”? Not a term I’m familiar with.
The investment risk issue fascinates me. It’s well documented that women prefer safer investment options - and are less financially literate - despite managing household finances more than men. It’s almost like that short term focus creates some kind of heuristic bias….
As someone who studied financial planning (albeit in Australia and 15 years ago), I’m keen on long term share investing but found the Irish system with its deeming rules extremely frustrating.
Nominally as a marketing assignment* at Dublin Business School (but also for my own benefit), I'm looking into retirement planning for women.
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