Will job make a difference to my pension
- Thread starter Brighid
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Brendan Burgess
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Re: Pension
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Brendan
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Please the title of your post in line with the Posting Guidelines.
Please read the before posting again on Askaboutmoney.
Any responses to posts with meaningless titles will be removed.
If the title is not edited within a reasonable time, the post will be closed.
Brendan
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LDFerguson
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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?
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.
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.
Ok just to clarify, I am on a public service retirement pension.
LDFerguson
Registered User
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- 4,663
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.