Retirement Age

R

roker

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At 64 I am almost there , retirment, but I cannot determine if I retire on my 65th or 66th birthday. There is a transitional year, what is this? is it means tested. I have about 20 years English contribtions and 20 years Irish PRSI contributions, plus 10 years personal pension. Has the government sneaked a year on to the retirement age?
 
If you are talking about the state contributory (or even non contributory) pension then the normal retirement ages for these are detailed on the SW website www.welfare.ie . If you are talking about other (e.g. occupational or private) pension cover then check the rules of your scheme(s).
 
There is a lot of reading on pensions in the link, very complicated. As far as I can see, the only difference between transitional at 65 and Contrubutory at 66 is I cannot work and claim pension from age 65 to 66, but I can work and claim pension from 65 plus. So although they say transitional is not means tested, it is, because I will not get it if I work.
If I wanted to work on, my employer will not let me have a year off from age 65 to 66.
 
Yes Roker you are absolutely correct! Pensions are a complex subject so can I make a couple of suggestions.

Apply for both Irish and English pensions seperately and immediately.

You should be entitled to a percentage of your UK pension at age 65 if you are male or 60 if female

It is unlikely that you would be entitled to a Transition Pension with only 20 years PRSI contributions but only the pensions office can tell you that. If you are not entitled to Transition pension your choices are:-
(a) continue to work for another year
(b) if this is not possible and therefore you have no work at 65 apply for jobseekers benefit until you are 66.

At age 66 you should be entitled to 98% of Irish pension

Contact your private pension provider or broker for information on private pension.

Other benefits:-
Free passport at age 65
Free travel at age 66
Household Benefits Package ie.Telephone.ESB & T.V.

 
At 66 but there are a couple of conditions.
At age 70 available to all.

Don't forget they do not just click in, you must apply
 
Last Dec my husband reached his age of 65 and got State transition pension (as he was out of work for over 2 years prior to his 65th birthday). His employer, for whom he worked for 31 years, had made him redundant a few years ago. He had made AVCs into the occup pension scheme, and according to documentation, he should have received his occup. pension on his 65th birthday. Not a word to date from his employer or from the actuarial company (won't name it but it was often in the news recently re the poor performance of Irish pension funds). A couple of months ago, he had made contact with both his employer and with the actuarial co, but no reply.
What would he do - contact the Pension Board or the Pension Ombudsman?
thanks,
allendog
 
Hi Allendog

I would contact both the Pensions Board and the Pensions Ombudsman and ask their advice on how to proceed. Generally with complaints to Ombudsmen you need a written response from the company you are dealing with and if not satisfied with that response you bring your compaint to an Ombudsman. However in this case where your husband has retired it is bad form that neither the employer or acturarial firm has responded. Good luck

Guby
 
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