Public sector pension and Irish State pension - do I get one or two pensions and how much

[Mulder]

I worked for the Central Bank of Ireland from July 2004 to August 2016. Reviewing my pensonal benefit statement I received today tells me that my preserved retirement pension is worth EUR13,500 per annum payable when I turn 65. My question is, what happens when I turn 67 and qualify for the Irish state pension. When it comes to cold hard cash, will I receive both the CBI pension of EUR13.5 and the Irish State pension of circa EUR15.5 (assuming full PRSI contributions) or is there some type of offset / connection between the two and I dont acually end up receiving EUR29k (the combination of each). It has been suggested to me that I will only receive one and not two pensions.

 

[Conan]

It all depends on whether your main Pension Scheme is:
"integrated" with the SW Pension, or
"Non-integrated" with the SW Pension
If you are an A PRSI contributor, its likely that your Occupational Pension is inclusive of the SW Pension.
But since the current SW Pension is circa €16,000, its likely that the €13,500 you are being quoted is the Occupational Pension piece only.
But you should ask the provider of the personal benefit statement, to be sure.

 

[Nordkapp]

Yes, the CBI holds your occupational pension as preserved benefits, and providing you have sufficient prsi stamps you will get the COAP on top of that, providing you were on Strand 3, coordinated with the COAP.