That's what I am hoping Protocol, but ppmeath suggests that it isn't so simple and that perhaps some employers are only going to pay out the "occupational" part of the pension, basically saying "tough luck" on the remaining €12k as they are interpreting the rules in a particular way. I wonder are there other post-95 employees who might have arrived into the Public Sector later in life, now retired, that could give us some useful insight as to what happened in their own particular case, particularly if they retired in advance of 65. This would be very useful indeed for the likes of myself - I won't be retiring for some time yet but I am also post-95 and looking to retire at 60 which is my minimum retirement age. However, if my employer refuses to supply me with a supplementary pension to cover the years from 60-68 then I won't be able to retire at 60 at all.The aim of the supp pension is to treat post 95 staff who pay full-rate PRSI similar to pre95 staff who pay low-rate PRSI.
If a pre95 worker retires from the PS at, say, 62, before the State Pension age, 66 at the moment, they receive full pension from age 62.
If a post-95 worker retires at age 62, they get the work pension element only.
The supp pension brings their pension up to what they would have got if they had been class D pre95 worker.
The aim of the supp pension is to treat post 95 staff who pay full-rate PRSI similar to pre95 staff who pay low-rate PRSI.
If a pre95 worker retires from the PS at, say, 62, before the State Pension age, 66 at the moment, they receive full pension from age 62.
If a post-95 worker retires at age 62, they get the work pension element only.
The supp pension brings their pension up to what they would have got if they had been class D pre95 worker.
That's what I am hoping Protocol, but ppmeath suggests that it isn't so simple and that perhaps some employers are only going to pay out the "occupational" part of the pension, basically saying "tough luck" on the remaining €12k as they are interpreting the rules in a particular way. I wonder are there other post-95 employees who might have arrived into the Public Sector later in life, now retired, that could give us some useful insight as to what happened in their own particular case, particularly if they retired in advance of 65. This would be very useful indeed for the likes of myself - I won't be retiring for some time yet but I am also post-95 and looking to retire at 60 which is my minimum retirement age. However, if my employer refuses to supply me with a supplementary pension to cover the years from 60-68 then I won't be able to retire at 60 at all.
That's a serious concern for sure. You'd think the Pensions Ombudsman would have dealt with/be dealing with several such cases as we type. It is a massive issue for post-95 people who aim to retire early only to find out that the dream may be going up in smoke! I'll be keeping a beady eye on how things progress over the next while, do keep us posted about your own case also and if you hear of any others that are in a similar boat. I wish ye all the very best of luck with your cases, it must be distressing to say the least to see a pension promise being abandoned in such a way.Spot on. But when you post the rules of the scheme and even post legislation - and are ignored - sure what can you do.
That's a serious concern for sure. You'd think the Pensions Ombudsman would have dealt with/be dealing with several such cases as we type. It is a massive issue for post-95 people who aim to retire early only to find out that the dream may be going up in smoke! I'll be keeping a beady eye on how things progress over the next while, do keep us posted about your own case also and if you hear of any others that are in a similar boat. I wish ye all the very best of luck with your cases, it must be distressing to say the least to see a pension promise being abandoned in such a way.
The aim of the supp pension is to treat post 95 staff who pay full-rate PRSI similar to pre95 staff who pay low-rate PRSI.
If a pre95 worker retires from the PS at, say, 62, before the State Pension age, 66 at the moment, they receive full pension from age 62.
If a post-95 worker retires at age 62, they get the work pension element only.
The supp pension brings their pension up to what they would have got if they had been class D pre95 worker.
EarlyRiser,
you say I'm correct, yet ppmeath says I'm wrong.
This is a confusing issue.
I personally might hope to claim a supp pension, so I am curious.
No problem there - I paid PRSI throughout my working life & signed on for credits thereafter.
Both the BOI & the Social Welfare office both confirm that , if spared , I will receive the State pension.
Would it not be possible to split this thread in to two threads. Public service pensions and private pensions and how they are dealt with?
I started the thread as a DB private pension person but it has me totally confused now.
.EarlyRiser,
you say I'm correct, yet ppmeath says I'm wrong.
This is a confusing issue.
I personally might hope to claim a supp pension, so I am curious.
EarlyRiser,
you say I'm correct, yet ppmeath says I'm wrong.
This is a confusing issue.
I personally might hope to claim a supp pension, so I am curious.
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