Public sector pension & further employment

New career

New Member
Messages
3
Hi, I joined public in 1997 and between career break and job share I currently have approx 20 years service. I would love to completely change career now at age 50. My intention is to apply for career break and retrain. My question is, could I draw down my pension at 55 but continue to work in private sector . Or if I was to gain other employment in public sector, how would my pension be calculated? Would I get benefit of the 20 years at my current salary of €60k and a separate calculation of pension if I was to get a different job at a lower salary?
 

Dublin Abu

New Member
Messages
21
Looks like future benefit would be 60 divided by 2 and then half as u don’t have full service - so would be €15k/ year minus the social welfare (as I guess u are PRSI A) … be mindful if you don’t get the full social welfare pension - so I’m guessing your net public sector pension might be 4-5k / year plus social welfare
 

New career

New Member
Messages
3
Looks like future benefit would be 60 divided by 2 and then half as u don’t have full service - so would be €15k/ year minus the social welfare (as I guess u are PRSI A) … be mindful if you don’t get the full social welfare pension - so I’m guessing your net public sector pension might be 4-5k / year plus social welfare
Thanks for the reply, yes I’m A class PRSI
 

NoRegretsCoyote

Registered User
Messages
3,166
AFAIK you won't be able to draw a public service occupational pension until 65 no matter what you do.

If you re-join the public service after more than a two-month absence you go on the post-2013 Single Scheme whose terms are not as good.

Not sure how the career break part works. In theory if you are a nurse now, go on a career break to train as a teacher, then join again in four years as a teacher you shouldn't have to join the Single Scheme. But check this.
 

New career

New Member
Messages
3
AFAIK you won't be able to draw a public service occupational pension until 65 no matter what you do.

If you re-join the public service after more than a two-month absence you go on the post-2013 Single Scheme whose terms are not as good.

Not sure how the career break part works. In theory if you are a nurse now, go on a career break to train as a teacher, then join again in four years as a teacher you shouldn't have to join the Single Scheme. But check this.
Thanks, not sure what I’ll do, think I’ll discuss it with HR
 

Chiara

New Member
Messages
1
I'm sorry I'm new to all this pension stuff, can someone please tell me what adverse affect will it have on my pension if I am paying a Class A PRSI stamp rather than a Class D stamp?
 
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