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Should I defer State (contrib) pension if born in December
- Thread starter elcato
- Start date
Any use?
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Withdrawal from ARF before reaching 61.
If he works for 13 weeks during the Calendar Year of his 62nd Birthday, should he sign on for Credits also ? The important thing is to have a minimum of 39 contributions during the calendar year of his 63rd birthday. These can be either full rate paid class A, or Jobseekers credits.. So he...
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Deferring your State Pension (Contributory)
You can start to claim your State Pension (Contributory) at any age between 66 and 70. This page explains who can defer (delay) their State Pension (Contributory), rates for different age groups, and how to apply.
www.citizensinformation.ie
Deferring your State Pension (Contributory) - break even point is age 88
Age when you start to claim Maximum rate per year diff v 66 Age 66 €277.30 €14,469.51 €0.00 Age 67 €290.30 €15,147.85 €678.34 Age 68 €304.80 €15,904.46 €1,434.95 Age 69 €320.30 €16,713.25 €2,243.74 Age 70 €337.20 €17,595.10 €3,125.58 Age 66 67 68 69 70...
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It would only be useful if you needed the extra Prsi contributions to bring you into a higher averaging band, and also if getting into this higher band results in your calculated pension being higher using the combined average and total contributions calculation, rather than the total contributions only calculation.
It's explained better here in an example case I posted.
It's explained better here in an example case I posted.
Information on pension calculations after age 66.
If a customer decides to defer their pension, will the years worked after age 66 be counted as part of their yearly average? If a customer chooses to defer their pension, the number of extra years worked will add to the divisor for the yearly average. (e.g. if a customer has 50 years cons at...
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If you started your Prsi record at age 16 and claimed your COAP at age 66, you have an averaging divisor of 50.
With approximately 1500 stamps you should be into the average 30 band.
If it turns out that you end up with less than average 29.5 at age 66, it could be beneficial to defer until the start of the year after your 66th birthday.
Claim your pension to start at age 66. If it calculates out at average less than the 30 band, then reject it and reapply later.
If you end up in this situation make sure not to take any payments from the COAP. With this in mind choose payment at your local post office.
With approximately 1500 stamps you should be into the average 30 band.
If it turns out that you end up with less than average 29.5 at age 66, it could be beneficial to defer until the start of the year after your 66th birthday.
Claim your pension to start at age 66. If it calculates out at average less than the 30 band, then reject it and reapply later.
If you end up in this situation make sure not to take any payments from the COAP. With this in mind choose payment at your local post office.