dollyclare
Registered User
- Messages
- 67
The old age contributory pension is linked to PRSI contributions and is not means tested so is not affected by other savings or income etc. The old age non contributory pension is means tested and other means/income are taken into account when assessing applications. See Welfare for more.dollyclare said:does it stop you from getting an old age pension,or do they means test and give you the higher pension amount.
I don't understand this question. Perhaps you can explain/clarify?Also,with all this talk of building up your pension for the future,is it possible to build up a pension that you already have(from work) so that later on in life the payouts will be bigger?
Sorry - still confused. You say that you have retired but you are not an OAP yet. Can you explain please?dollyclare said:I have a pension from work as I retired early.
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so that when I'm of oap age
Yes.ClubMan said:Do you mean that you are already retired and drawing a pension but have a lump sum that you want to invest judiciously so as to supplement your pension income now or in the future?
Are you also entitled to any welfare payment in addition to your pension?dollyclare said:Yes.Due to ill health I had to retire very early and got a pension from my ex-employer.
Perhaps a PRSA is an option although I'm not sure what, if any, tax/PRSI relief you might be entitled to. If you have an SSIA then perhaps the SSIA to PRSA [broken link removed] would be relevant to you?I wondered about ways to make my weekly income bigger as I get older.As I have a lump sum now I thought I could invest in a pension fund or something.
dollyclare said:sorry about that I wasn't very clear. Example-I have a pension from work as I retired early.It is fairly small.I have a lump sum I would like to invest.
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