Public sector pension & further employment

New career

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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?
 
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
 
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
 
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.
 
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
 
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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