State pension question

holidayqueen

Registered User
Messages
69
Hi I will be 60 years old in October I will be retiring in 1st September as I no longer feel able to keep working due to work stress related issues.
I hope to be able to draw my stamps for 9 months.
I started my employment history on my 16th birthday so 1978. I had 4 full years of contribution. In 1982 I got married I had just 30 contributions in 1987
In 2022 I had 21 contributions and for 2004 until now I had full contributions so 18 full years.
My last child was born in 1985 so would I qualify for the home carers from 94 to 97?
And from now until 2028 when I will be 66 I will have a yearly rental income of 11,500 per annum so that will be my prsi contributions for the next 6 years. I do have a small amount of savings for the next 6 years until I reach the state pension.
Can anyone work out if I’m entitled to the full state pension and if not how much I’m likely to get.
Thanks in advance
 

Groucho

Registered User
Messages
192
A quick and dirty calculation based on the info supplied:

1978 - 1981: 4 X 52 paid 208
1982: 30 paid 30
2004-2021: 18 x 52 paid 936
2022: 21 paid (but if you 'draw down your stamps' you'll have 31 weeks of reckonable credits, or, if you get rent, you'll get 52 Class S) 52
2023-2027: 4 X 52 Class S (your 2028 PRSI isn't reckonable) 208

Total paid by end 2027 is 1434. And assuming that you get home carers for 4 years max (which you should), you'd have an extra 208 reckonable credits.

So that's 1644 reckonable contributions over a 50 year working life.

That makes your yearly average around 33, putting you in the middle of the 30-39 band and entitling you to a weekly pension of €227.70, i.e. 90% of the full Contributory Pension.

Disclaimers:-
I've stuck my neck out here and may have missed something obvious, so I'd welcome any corrections!
The rules may change before you hit 66!
 

holidayqueen

Registered User
Messages
69
A quick and dirty calculation based on the info supplied:

1978 - 1981: 4 X 52 paid 208
1982: 30 paid 30
2004-2021: 18 x 52 paid 936
2022: 21 paid (but if you 'draw down your stamps' you'll have 31 weeks of reckonable credits, or, if you get rent, you'll get 52 Class S) 52
2023-2027: 4 X 52 Class S (your 2028 PRSI isn't reckonable) 208

Total paid by end 2027 is 1434. And assuming that you get home carers for 4 years max (which you should), you'd have an extra 208 reckonable credits.

So that's 1644 reckonable contributions over a 50 year working life.

That makes your yearly average around 33, putting you in the middle of the 30-39 band and entitling you to a weekly pension of €227.70, i.e. 90% of the full Contributory Pension.

Disclaimers:-
I've stuck my neck out here and may have missed something obvious, so I'd welcome any corrections!
The rules may change before you hit 66!
Thank you so much. I had hoped to get to the 90% so I would be ok with that. I am aware that things may change before Im 66 and I know that I will be lucky if they stay as they are. but that makes me feel a bit more secure.
 
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