Pension (Public Sector 3rd Level) -is it lump sum or annual amount

TableEnd

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It tells me Salary of 37,339.00 that I should get 53,832.15 lump sum, then it says 14,320.08 per annum, I presume this is either/or situation? I either take the lump sum or I can earn 14,320 per annum from my pension? It then says supplementary pension until 66 is 17000 based on social welfare payments..

What does all this mean? Thanks in advance

I am due to retire in 35 years!
 
Public servants receive both a lump sum and a yearly pension, and some staff may also be eligible for the State Pension (Contributory) depending on PRSI contributions.

This appears to be the information you have:

On retirement, you would be eligible for a pension lump sum of 53,832.15 and an annual pension from your employer of 14,320.08

Because your state pension may not be paid at the same time as your retirement from your employment, (retirement from work is at 65, state pension isn't paid until age 66, rising to 68 in the future) your annual pension from your employer will be an additional 17,000 until you reach the state pension age.
 
...an annual pension from your employer of 14,320.08

Because your state pension may not be paid at the same time as your retirement from your employment, (retirement from work is at 65, state pension isn't paid until age 66, rising to 68 in the future) your annual pension from your employer will be an additional 17,000 until you reach the state pension age.
Very much doubt these figures are correct. An additional 17k would push the annual pension total over 31k for those years, almost as much as the salary on which it is based. Most public service pensions (i.e. to those paying higher rate PRSI and entitled to the Old Age Pension Contributory) are now integrated so the total pension received (including the OACP) can't be higher than 50% of retirement salary.

Check the numbers quoted and the wording.
 
Very much doubt these figures are correct. An additional 17k would push the annual pension total over 31k for those years, almost as much as the salary on which it is based. Most public service pensions (i.e. to those paying higher rate PRSI and entitled to the Old Age Pension Contributory) are now integrated so the total pension received (including the OACP) can't be higher than 50% of retirement salary.

Check the numbers quoted and the wording.
OK that is worrying, I will ask Payroll. Thank you.
 
are you a class d or a contributor?

A Class D cant get a supplementary pension and not that many Class A's get one either
 
I am class A, I was sure I would be getting a contributory pension. How wrong was I!

You are not wrong. In 35, or more years you will get a lump sum from your PS job plus a pension based on your service, plus a Contributory OAP when you reach, 66,67 or 68. If you are not due to retire for another 35 yrs, why on earth are you worrying about your pension? You will getr all the ifo you need at www.cspensions.gov.ie. Loads of interesting reading there.
 
I am trying to work out what kind of a pension my husband will need to have, so therefor calculating what I would be getting is significant to that.

Many thanks for the info.
 
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