Retiring from Public Sector with Class A PRSI at 60 and Coordinated Payment

D

DingDing

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In my current position I can retire at age 60 without an actuarial reduction.

If I retire at 60 can I declare I am not available for work and draw down the co-ordinated pension payment immediatly, or do I need to "Sign on" and claim Unemployment Benefit / Assistance for a period of time.
 
I did same, first apply for a Public Services card, then apply for jobseekers benefit ( circa 9 months) both of these can be done online you need to create an account on mywelfare.ie, as to declaring your not available for work , this would actually be the best way but needs to be tested
 
If you are claiming Job Seekers Benefit at age 60, you are required to be available for and genuinely seeking employment (Whether you actually get a job or not). But if you say you are not interest in working, then you might be refused JSB.
If you are aged over 62 and you apply for JSB then they generally don’t require you to seek employment.
But JSB is only payable for 9 months. Then you can apply for Job Seekers Allowance, but that is means-tested.
If you get JSB then you can normally sign-on for credits thereafter, up to age 66 when you will presumably qualify for the State Pension.
 
If I say I sm not available for work can I go straight on to the coordinated pension or do they expect you to spend 9 months looking for work claiming job seekers benefit. If I wanted to work I wouldn’t have retired.
 
It's all a game. Easiest thing is just play along. If you say you are not available for work you might get questioned as to why. Are you medically unfit for instance. You might then be told to apply for disability assistance.

Think about the reasonably well off American woman living in Ireland quietly costing the state nothing. She tried being honest and applying through all the correct channels to get permanent residency. Her honesty resulted in her eventual departure to avoid deportation. Had she just played along and kept a low profile she would probably still be living happily here.
 
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S class said:
It's all a game. Easiest thing is just play along. If you say you are not available for work you might get questioned as to why. Are you medically unfit for instance. You might then be told to apply for disability assistance.

Think about the well off American woman living in Ireland quietly costing the state nothing. She was offered a state benefit and when she refused the benefit she was investigated and deported. Had she played along and accepted the benefit she would still be happily living here.
Click to expand...
Have you a link for that.
 
Unfortunately i am playing that game, circa 9 months of job seekers benefit, collect from post office every week, has to be done, after 9months you have to fill in a form to say you will get a supplementary pension so fail means benefit, submit form to your employer and they pay supplementary pension till 65, then sign on for credits every year, a pain but dont take it personal
 
S class said:
Google American woman deported from Ireland.

I was going by memory. I checked it out and edited my above post.

Basic point is honesty is not always the best policy.
Click to expand...
This?
m.independent.ie

American who retired to Kenmare on facing deportation: 'Why doesn't Ireland welcome with open arms folks like me?'

I travelled to Ireland from America for the first time in 2009, and fell under the magical spell of this beautiful, welcoming country. I returned on holiday every year for the next three, never able to get enough.
m.independent.ie m.independent.ie
 
stoves1 said:
Unfortunately i am playing that game, circa 9 months of job seekers benefit, collect from post office every week, has to be done, after 9months you have to fill in a form to say you will get a supplementary pension so fail means benefit, submit form to your employer and they pay supplementary pension till 65, then sign on for credits every year, a pain but dont take it personal
Click to expand...
Great Advice, this is how I will go.
 
stoves1 said:
I did same, first apply for a Public Services card, then apply for jobseekers benefit ( circa 9 months) both of these can be done online you need to create an account on mywelfare.ie, as to declaring your not available for work , this would actually be the best way but needs to be tested
Click to expand...
Agreed, I was checking if I would be able to do this. But if it is not tested, I have no appetite to be a test case.
 
So it looks like I will get the following for the first 9 months. At 60 years of age.

1. Approx 210 in Job Seekers Allowance (JA)
2. Approx 45-50 co-ordinated payment
3. The balance to bring it to my pension Years Service / 80
(1 + 2 = OAP)

When the JA expires I get confirmation from SW that I am no longer eligible and I get.

1. 260 Coordinated payment = SW pension
2. The balance to bring it to my pension = years service / 80
(1 = OAP)

When I reach the old age pension age.

1. OAP
2. The balance to bring it to my pension = years service / 80

If I get casual work, I dont get Jobseekers allowance or the supplementary pension for those days. But this has the advantage that I may be able to get the JA paid into my bank account.

When I get the OAP I can work casually without discount.

By work I am thinking interview panels and such where there would be a payment or honorarium.

I joined the public service in 1999.
 
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