Will job make a difference to my pension

I am on an occupational pension and today I have been offerered a job will this affect my pension?

Re: Pension

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Brendan
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Re: Pension

Ok Brendan hope this complies. Sorry!

Can you clarify what you mean by "I am on an Occupational Pension"?

Do you mean that you are in receipt of a pension from a scheme operated by a former employer?

Or that you are receiving a pension from the State?

Or something else?

If you are working in an job and are a member for retirement benefits then there are a number of options open to you if you leave that job and take up the new job that you go for - assuming that is the situation that you find yourself in!

1. Leave a preserved benefit in the pension fund of your old occupatiuon.
2. Take a transfer value to another occupational pension scheme.
3. Take a transfer value to a buy out bond.
4. Take a transfer value to a PRSA.

If you have less than 2 years service in the job you are currently then you may be entitled to a refund of some of the contributions.

Bottom line talk to a financial adviser.

LDFerguson said:

Can you clarify what you mean by "I am on an Occupational Pension"?

Do you mean that you are in receipt of a pension from a scheme operated by a former employer?

Or that you are receiving a pension from the State?

Or something else?

Click to expand...

Ok just to clarify, I am on a public service retirement pension.

Brighid said:

Ok just to clarify, I am on a public service retirement pension.

Click to expand...

Thanks. If you are currently receiving a pension from one of the public service superannuation schemes, it will continue regardless of whether or not you take on a new job.

You will be assessable for tax on the aggregate of both your pension and earned income.

Thank you LD, that is all I wanted to know.