Pension

C

Cathy

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After leaving school in the 60s I worked for 2 years in Ireland then a further 2 years in UK by which time I was married with children then returned to Ireland and raised family, I never worked outside the home since but have been involved in my husbands buisness at all times - never took any wages or paid prsi, I have now been told I should start paying prsi towards my old age pension am I too late at 55 I still do all the paper work involved for my husband, he has always paid self employed prsi for himself,
 
Hi Cathy,
I am no expert on this but to quote from Social Welfare

"Paid insurance before a certain age
You must have entered social insurance before a certain age. For people currently under 66, they must have started to pay social insurance before the age of 56. The age limit is higher for people born before 1922"

You will be 66 years of age in 2015 so the following rule applies
"If you reach pension age on or after April 6th 2012, you will need to have 520 paid contributions (10 years paid contributions). In this case, not more than 260 of the 520 contributions may be voluntary contributions. However, if you were a voluntary contributor on or before April 6th 1997 and you have an average of 20 contributions per year, you may meet the requirement if you have a total of 520 contributions, but only 156 need to be compulsory paid contributions"

However Cathy you have a further problem since you worked for two years after leaving school so for welfare purposes your working life is from the first day you started work up to the age of 66. In your case that would be in excess of 40 years and in order to qualify for a minimum pension you have to have an average of 20 contributions per year . However if your average is 15-19 contributions you would get 3/4 of min pension or 10-14 contributions you would get 1/2 min pension or 5-9 average contributions you would get 1/4 min pension

Have a look at the link below
 
re

thank you I have read the info and find it complicated even thought I worked for 2 years after school aged 15-17 I did not pay any ins as wages at that time were £2 per week
 
I was reading above link not sure about the carer in the home part ie mother, does this only apply to mothers after 1994
 
Cathy,

As far as I can see it is to your advantage for averaging purposes that you didn't pay any contribution for those years after leaving school.
So if you start work now and pay or get credited contributions for the next 10 years (must have 520 contributions) you will qualify for the old age pension.
As I said I am not an expert so I would advise you to contact the Pensions Section of Social Welfare immediately as you have to have worked for 10 years before the age of 66.

Susan,

After 1994 years years taken off from work by persons caring are not counted for averaging once you return to work.
This reduces the number of years of your working life but increases your yearly average contribution and once you have an average of 20 contributions you qualify for a minimum OAP presently at 164 euro per week see

www.welfare.ie/publicatio...2.html#2.2
 
Directors PRSI and Pensions

Hello

I returned to Ireland (from London) 8 years ago and set up my own small company. This was a limited company and I paid tax and PRSI as an employee (director) of this company. Three years ago I ceased trading and took up full time employment in the PAYE sector.

Does the PRSI I paid as a director of a limited company count towards a full state pension. I don't know if the class of PRSI is the same as that paid by standard PAYE workers.

Regards

Zed
 
Re:Director's PRSI

Zed

Directors normally pay Class S PRSI which is counted towards your Old age Pension.

Bear in mind also if you paid social welfare contributions in London these will also be taken into account.

Look at the section "Qualifying Conditions in Summary" in the link below and further down about EU countries.

www.welfare.ie/foi/oldagecp.html
 
What would be the contributory pension entitlement of someone who worked during her college summer holidays, then emigrated at the age of twenty.returning to Ireland thirty years later at the age of fifty starting up as self employed, paying prsi class s contributions until the age of 66?

Any opinions?
 
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