Supplementary Pension and maintaining PRSI contributions

Hi....

I have some questions regarding the Occupational Supplementary Pension (OSP) and maintaining PRSI contributions in 2 slightly different scenarios....

Scenario 1 - My retirement

I am a post 1995/pre 2004 public sector joined employee on PRSI stamp A intending to retire next year sometime after my 60th birthday with ~36 years service (some as purchased notional service). As I understand things, I will retire with my occupational pension from my employment service and should also qualify for the OSP. When I retire I should have ~1600 PRSI contributions reckonable for the state pension....obviously well below what I would need for full or close to full state pension at 66.

Between when I retire at 60 until state pension age at 66, how can I maintain my PRSI contributions?

Scenario 2 - My wife's retirement

My wife will also be retiring in the near future, probably no more than a year after me. She is also on a PRSI stamp A. She doesn't work in public sector now, but did work for a local county council from 1999 until approx 2007 in 3 stints.

• Given that she won't be retiring from an active public sector job (i.e. she left public sector in ~2007), do the same pension rules about retirement age apply?.....i.e. as a pre-2004 starter, would her 'normal retirement age' as far as the council is concerned still be age 60 as regards claiming whatever pension accrued through her superannuation contributions over her time at the council?
• Again, given she won't be retiring from an active public sector job, as a post 1995 starter on a PRSI Stamp A would she also be entitled to some level of OSP?

Would be most grateful for any advice/information/help on this.

Thanks in advance.

I am retiring next year , I have already received my total stamps printout from DSP , I will be about 150 short of the 2080 needed for full contributory OAP by the time I hit 66 .
Researching options I can forego part of the supplementary pension to work enough hours to get a stamp which would effectively be working for nothing or else make voluntary contributions at 6.6% of previous years earnings .
I will be doing the latter 2 tax years after I retire so the amount paid will be based on my pension income not my work income which includes salary and considerable allowances and overtime .
Now bear in mind I am not an expert on above but this is what I could see as my best option , am open to correction on same.

Scenario 1.
Would Pay related Jobseekers Benefit pay more than your suplimentary pension ?

If so, claim this instead of suplimentary pension for the first 9 months after your retirement. When the payments end continue to sign on for Jobseekers credits up to age 66.

If PRJB is less than your suplimentary pension.
Claim suplimentary pension and also sign on for Jobseekers credits up to age 66.

This will allow you to gain Reckonable Prsi contributions up to age 66.

Scenario 2.
Wil she be short of 2080 Reckonablersi contributions at age 66 ?

Regardless of whether she is or not, she should claim PRJB and continue to sign on for Jobseekers credits up to age 66.

Would Benefit payment 65 be more than either of your suplimentary pensions ?

If so this could be claimed between age 65 and 66 instead of suplimentary pension.

To qualify for this 13 weeks of employment would be required alongside Jobseekers credits. You would have to factor in the loss of suplimentary pension for the 13 weeks.

Check out this thread for more information on this.

Hi....

Thanks a mill for the info. I think this clarifies things for my own retirement scenario.

As regards my wife's situation tho, as I mentioned in my initial post, she was a post-1995 pre-2004 starter in public sector on PRSI stamp A, but quit the public sector around 2007/2008. The job she is doing now is just part time and not public sector.

• Is she still entitled to 'retire' (or in this case claim her public sector pension) at age 60?
• And if yes, as a post-1995 PRSI stamp A starter, would she be entitled to an OSP even though she left public sector ~17 years ago?

....and an additional question with regard to my wife's situation and PRJB:

• If she is entitled to claim her PS pension at 60, would she be entitled to Job Seekers Benefit? Even if she can claim her PS pension at 60, if at the same time she retires from her current job, she would effectively be quitting her current (non-PS) job. My limited understanding of PRJB is that you're not entitled to it if you just voluntarily quit your job.

Hope I'm asking the right things here and that I'm making some semblance of sense.

Thanks in advance for any advice/information/help on this.

I am not very knowledgeable on post 95 public sector pensions.

She might be able to retire and claim her public sector pension at age 60.

What pension is OSP ?
Do you mean the contributory state pension ?

She will be entitled to a portion of her public sector pension regardless of when she ceased her public sector employment.

She will be entitled to whatever portion of the contributory state pension that her Prsi record allows.

For any Jobseekers benefit scheme, she qualifies based on her Prsi record and being fully unemployed.

When she ceases her employment, she is fully unemployed.
If she states that she just decided to stop work without good reason, her claim can be disallowed for the first 9 weeks of the 9 months payment period.

If she gives an acceptable reason for ceasing employment she will receive the full 9 months payments.

Acceptable reasons can include, health reasons, workplace stress, the need for a change of career, etc.

Being a pensioner does not prevent a person from being entitled to a Jobseekers benefit.

Being a pensioner also does not prevent a person from signing on for Jobseekers Prsi credits up to age 66.

Hi S Class,

Thanks for that. My apologies about the OSP acronym.....this is Occupational Supplementary Pension:


As I understand things, this is supposed to bridge the gap between pre 1995 PRSI stamp D starters who have a non-integrated (or non-coordinated) occupational public sector pension and and post 1995 PRSI stamp A starters who have an integrated (or co-ordinated) PS pension.

Thanks for your help.

cacheman said:

And if yes, as a post-1995 PRSI stamp A starter, would she be entitled to an OSP even though she left public sector ~17 years ago?

Click to expand...

Yes she would be entitled to OSP.

If she claimed Jobseekers Benefit the OSP would not be paid for the period of the JB payments.

Because of her short Public Sector service JB will pay her a lot more than OSP, so it's worthwhile claiming.

She should also maintain her Prsi contributions by signing on for JB credits up to age 66 in order to keep open the possibility of qualifying for BP 65. This will also be worth more than her OSP.

There is more information on this in the link on post #3.

@cacheman, see the latest circular on the OSP, effective from 1st August 2024.

Hi....

Thanks for all the information.

@Fionclaire - Thanks for the link....I had already seen this document. My initial concern when I posted here was that given the fact my wife quit public sector ~2007 and when retiring in the next year or two, would not be retiring from a current public sector job, that somehow she might not qualify for any OSP. But as per the 'letter of the law' as outlined in section 4 on eligibility in this document, there doesn't seem to be any mention of having to be going from public sector employment straight into retirement, so it does seem that my wife should qualify for some level of OSP....

@S class - Thanks for all the info on Jobseekers. I have since done some research/reading, and from what I can see:

• When I retire I should apply for Pay Related Jobseekers Benefit given that the rate of benefit seems to be based on a % of my earnings at retirement.
• Being part time, my wife's weekly income is only ~€170 so when she retires, it seems she would be better to apply for Jobseekers Benefit (non Pay Related) since a % of her earnings at retirement on Pay Related JB would be less than what she would get on (non Pay Related) Jobseekers Benefit.

Does this look correct?

Thanks again.