By 2028 (year of retirement) by my reckoning I will have 23.5 years service, including my 7.5 years buyback. My retirement salary (based on current scale) should be 65000.
I now have to figure out if I am better off to go with AVCs until 2028 or buy notional service. I can pay 320 gross per month into either for the next 3 years and 500 per month for the final 6.5 years.
I joined the pension scheme in 2012 when I got my CID. However I commenced employment with the ETB in 2002 on temporary contracts ... I have assumed I would be treated for pension purposes as post 2004 new entrant rather than pre 2004 .. is that correct? Once again thanks in advance, your plain English explanations are just what I needed!
Like you, I assume that if you joined the pension scheme in 2012 then all your pensionable service, including the buy- back years, will be in the post 2004 scheme. The same applies if you purchase notional years.
Like many pension matters, it seems this is a rather arcane point and we are at the mercy of the employer in how it is interpreted. Is there any way to get specialist, non-AVC sales pitch advice on this?
I also started employment pre-2004 but was not admitted to the pension scheme until post-2004.
I don't see one, other than my employer has decided that's how it is. Perhaps it's general policy, as it would minimise obligations?Any reason that you are aware of that you may not have been admitted to the pension pre -2004 ?
. My post-2004 CID contract is broadly similar -- and in the same department -- but it brought together multiple previous contracts under one. Perhaps that's it, but I would dispute the reasoning there.- staff who were employed in a temporary or seasonal capacity prior to 1 April2004 will not be regarded as new entrants if they resume duty in the public service within the same contract of employment.
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