HSE pension

[pcocp]

Hi all.


Thanks.

 

[becky]

I'm afraid i don't think you can buy this service as if that was the case everyone would do it.

Its only 19 months - my boss will only have 25 years.

If you die in service your spouse and child get something. You are paying into it as everyone has to.

 

[mula]

I'm afraid i don't think you can buy this service as if that was the case everyone would do it.

Its only 19 months - my boss will only have 25 years.

If you die in service your spouse and child get something. You are paying into it as everyone has to.

The Spouses' and Children's Pension Scheme provides benefits for the surviving spouse and eligible children of employees who die, either in service or following retirement.
Members of the Spouses' and Children's Scheme pay an additional pension contribution of 1.5% of gross salary and allowances.
The main benefits of the scheme are:

• The spouse of a employee who dies before retirement will receive a pension equal to one-half of the deceased employees maximum potential pension.
• The spouse of a retired employees will receive one-half of the retired teacher's pension.
• Where children are left as well as a spouse, an amount equal to 1/3rd of the spouse's pension will be payable for each child up to a maximum of three children. Children up to age 16, or the age of 21 if in full time education, fall within the terms of the scheme. Specific provision is made for children who are permanently incapacitated.
• Provision is also made for the payment of a pension to eligible children in the event that a employee is not survived by a spouse.

Points to note

• To be eligible for benefit under the Spouses' and Children's scheme specific contribution requirements have to be met. Outstanding contributions to the scheme, i.e. contributions in respect of years of service given prior to entry to the scheme must be paid at the time of retirement (only applicable to men in service prior to 1969 and women in service prior to 1981 who did not opt out of the scheme).
• In the case of married or widowed employees a deduction of 1% of retiring salary will be made from the employee's lump sum for each year of pensionable service for which contributions have not already been made (subject to a maximum of 40).

 

[pcocp]

i'm confused.
I keep hearing about buying years, notional service etc.
Can someone tell me:

a) is there a scheme in place for HSE staff who will not have the maximum service at 65, to buy the years missing in order to have maximum pension benefits on retirement? (even if it's only 19 months in my case, employed in a permanent capacity since Nov.2002)

b) is there an option to buy years in order to retire at 60 ( in my case 5 more on top of the 19 months mentioned above.)

c) if someone has contact details for a good pensions advisor in this area please send them to me via private message.

Thanks.
PCOCP.

 

[mula]

i'm confused.
I keep hearing about buying years, notional service etc.
Can someone tell me:

a) is there a scheme in place for HSE staff who will not have the maximum service at 65, to buy the years missing in order to have maximum pension benefits on retirement? (even if it's only 19 months in my case, employed in a permanent capacity since Nov.2002)

yes you can buy back the 19mts throught the purchase of notional service. there loads on here about that if you look.

b) is there an option to buy years in order to retire at 60 ( in my case 5 more on top of the 19 months mentioned above.)

No not with the HSE

c) if someone has contact details for a good pensions advisor in this area please send them to me via private message.

If its Buying yrs then your superann officer will have the answers for you.