Combined Public Sector Pension

[Military]

I joined Public Service in 2000. Am paying Class A PRSI, with a compulsory retirement age of 65. I want to plan possible early retirement in the next few years but no one can tell me exactly what my pension will be.

I had 8 years previous CS employment in the 80's which is also reckonable service + 14 years since 2000 and I have 13 years notional service purchased to date. If I retire at age 63 the Pensions Modeller tells me I will receive a "pension of €9,942 and I may also be entitled to a Social Welfare contributory Old Age Pension from age 66, currently €12,017.05 per annum. If through no fault of your own you fail to qualify for a Social Welfare benefit, you may be entitled to a supplementary pension."

My questions are
1. Will the CS pay a supplementary pension between 63 and 66 years of age?
2. How much will it be?
3. Will it be related to my entitlement of COAP.

I won't be entitled to full OAP as I don't have an average of 48 contributions per year over my working life. The DSP can't tell me what OAP I will be eligible for as it's too far away and to contact them nearer to date of eligibility.

Has anyone in a similar situation already retired from the Public Service and how was their pension calculated.

 

[stoves1]

This is a minefield which will effect every public servant who joined in 1995 or after ie class A PRSI contributor, and expects circa half pay on retirement with full service ( like present retirees) people need to get on to their union/representative association/Human Resources in order to ascertain what is the position, if they leave it till retired they will be out on a limb unlike present Publin service retirees, would appreciate if there are any public service employees out there getting a supplementary pension who would contribute to this discussion.

 

[Conan]

In terms of the State Pension it depends on whether you reach pension age (currently 66) before or after 2020. If after 2020 it is proposed that the State Pension will be calculated on a "total contribution" basis, with 30 years A class contributions required for the full pension. So you would need to work out what proportion you will qualify for based on your number of years contribution. And remember that the State Pension age is due to go to 67 from 2021. If you reach retirement age before 2020, then you may be entitled to a pro-data pension or a pension based on whatever your average contributions are. An average of 20 + years A contributions would get you an 85% pension (circa €190 percent) - I think.

If your reckonable CS service will be 35 years at age 65,then your CS pension will be 35/80ths of Pensionable Pay (Salary less 2x State pension). If you retire early the pension is reduced somewhat and I am not sure whether you get any supplementary pension up to age 66. You need to consult your local HR people.

 

[The Ghoul]

The supplementary pension question is one that regularly crops up. Yes, Class A servants need to talk to their union reps and HR dept and start planning well in advance of retirement. I have made some tentative enquiries so far and haven't come up with anything concrete. I have found that very few post 95 ers have even heard of the supplementary pension and for obvious reasons the pre 95ers have no interest in it. The age profile in the public service is quite old now and the majority of senior people are pre 95. HR depts won't have had to deal with many post 95 retirements.

Perhaps the Garda or prison officer associations would be clued in about supplementary pensions given that they can retire earlier than other servants meaning that any supplementary pension is very important.

I'd love to get more detail on what "through no fault of your own" covers. For instance, if I resign from the public service and don't take up paid employment or sign on for PRSI credits or make a voluntary PRSI contribution - would that mean no supplementary pension. In other words would I be at "fault" for not working.