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  1. C

    Annuities BOI

    Ok...so a quick calc on the arf option. Suppose I have a fund worth 200k at retirement. I can withdraw about 10k a year tax free i.e. without paying income tax. So, to get the value out tax free, I have to live to 85. Is that a fair rough calc? Otherwise, I pay tax and so lose the tax benefit I...
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    Annuities BOI

    At the rate offered, he'd have to live to 90 just to get back what's in the fund currently. The way I see it, that's well over the average lifespan, so BOI pocket the balance? Is there something that I'm missing? There's no mention of the monthly payment increasing over time. How is it...
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    Annuities BOI

    Does anyone have an updated link to the article on that thread? It points to a list of info leaflets now. I suppose my first question is: Are annuities generally this bad? And my second is: Is the arf option any better or would you also have to live to 90+, just to get the value of what's in...
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    Annuities BOI

    Hoping someone can help me understand this.... My father's pension is due to mature soon with BOI. It's worth 50k. He can take 25% or 12.50k as a lump sum. On the remaining 37.50k, he's been offered annuity or amrf. The annuity option looks like a complete and utter scam. They're offering...
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    New 'Single Scheme' Pension

    Thanks ppmeath. Very helpful stuff. I think I'm finally beginning to understand this. Any thoughts or opinion on how the new scheme compares to a private pension fund option? Just thinking there that one potential pitfall of the PS could be the possibility of the state pension rates being...
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    New 'Single Scheme' Pension

    Ok. Beginning to make more sense now. So if I'm following you correctly. .. Public servants who started before the new scheme are not entitled to the state pension but will instead accrue the 1/80 per annum, while public servants who start on the new scheme only accrue at 0.58% but will now be...
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    New 'Single Scheme' Pension

    Yeah its 0.58% up to 45k and then the old rate of 1/80 or 1.25% for anything over 45k. So for the majority of civil servants(EO grade and below roughly) the pension entitlements seem to have been more than halved. If I'm reading it correctly. . Currently considering a move to the PS myself so...
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    New 'Single Scheme' Pension

    This is wrong though isn't it? It looks like the entitlement has been halved. It's no longer 1/80 for every year, it's 1/160? So max pension is 25% of career average....doesn't sound great really.
  9. C

    Single Public Service Pension Scheme - A Good Deal?

    Hi all - would love to get some views/help on this. I'm trying to decide whether to accept a position in the civil service or not. One of the big benefits that's supposed to go with a public service job is the pension, but I'm not really sure the deal is that great. Maybe someone can help me...
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