Pension as an Engineer with Local Authority

A

ask73

Registered User
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I have a few questions

  • Student Engineer with Local Authority in summer 93 and 94
  • Engineer with Local Authority for past 15 months
  • 25 years to go to reach 60 when I would like to retire
  1. Can I retire at 60 by buying some NSP given the fact I was employed by the Local Authority pre 2006 as a student and only returned again in Oct 2006?
  2. Can I buy NSP as a temporary employee?
  3. As an Engineer the old rule was 30 years service will give 10 additional years to make the 40 increments. Is this applicable to me or is it now 33?
  4. If I may be outside the 2006 implimentation is it better to do an AVC
 
Your Superann. Section has all the answers- Check with them or directly with Dept. of the Envion http://www.environ.ie (www.environ.ie)
 
I took your advice and contacted the Pension dept in the Local Authority

I am classed as a new entrant and cannot retire on full pension before 60

I am not elligible for added years service as an engineer as I had served in the Private Industry. This means I need to subscribe to a 40 year pension. Can any one confirm that this is true?

I can retire at 60 on a cost neutral pension that would reduce my pension by 75% but I would have to buy back 12.5 years.

Does anyone have advice on the last 2 items?
 
ask73 said:
I am not elligible for added years service as an engineer as I had served in the Private Industry. This means I need to subscribe to a 40 year pension. Can any one confirm that this is true?

I can retire at 60 on a cost neutral pension that would reduce my pension by 75% but I would have to buy back 12.5 years.

Does anyone have advice on the last 2 items?
Click to expand...

It has never been the case that service outside the public service can be recognized for pension purposes on joining the public service (to the best of my knowledge). Increments can be granted for equivalent service elsewhere but these should not be confused with pensionable service.

I have frequently posted in the past about how significant are the actuarial reductions for going early under the cost-neutral scheme but 75% seems a little on the steep side!
 
"I am not elligible for added years service as an engineer as I had served in the Private Industry. This means I need to subscribe to a 40 year pension. Can any one confirm that this is true?"
Yes - some grades such as engineers and doctors qualifed for added years (i'm not sure what the criteria was). This was removed in 2004 so as you are a new entrant you will no longer qualify for this.
 
You do actually qualify for added years as an engineer as a new entrant but any superannuation benefits received in the private sector will reduce this. You can be awarded up to 5 years as a new entrant
 
ask73 said:
You do actually qualify for added years as an engineer as a new entrant but any superannuation benefits received in the private sector will reduce this. You can be awarded up to 5 years as a new entrant
Click to expand...
Am I understanding this correctly? Is this added increments, years of service to reach minimum service years for retirement or notional funded years of pension contributions which will serve to increase the amount of pension received?
 
Yes, this was standard practice for some "professional" grades in the Civil Service. In fact, the entitlement was known as Professional Added Years. It's availability was based on the concept that the Service wished to employ persons with extra years of training or experience. Sometime the Vacancy Notices specifies an explicit no. of years of experience as a minimum requirement. As the previous poster has stated, a deduction is applied to the Added Years corresponding to one's Pension Entitlements gained outside the Civil Service.
 
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