# S class stamps and the contributory pension



## ninak (21 Mar 2011)

Hi,  does anyone know what the implications of being self employed, ie.  company director, and paying S class PRSI are on pension entitlements. I am trying to find out exactly what are the amount of stamps paid, over how many years, etc. that you have to meet the requirements. I have looked around but find it hard to see what are the exact requirements. I want to make sure that we are meeting them now while we are in our 30's rather than find out in our 50's or 60's that we did something that means we miss out on it. I am aware that the requirements will probably change numerous times in the future, but want to know what exactly they are now. 
If it is unlikely that myself and my husband who is the other director in the Co. are going to get a contributory pension I would like to be aware of that now. I may have to get a job paying A class rather than continue on full time in our Co. Though this seems ridiculous as our business is doing OK and I enjoy my work, but I have to plan for the future too. Any clarity on this issue would be greatly appreciated.


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## twofor1 (21 Mar 2011)

Have you looked here;

http://www.welfare.ie/EN/Schemes/Pension/Pages/spc.aspx#Rules2


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## ninak (21 Mar 2011)

Hi twofor1. Yes, I have already had a look at that. The problem is that I was under the impression that you have to achieve a higher average if paying S class. For example to qualify for maternity benefit with S class stamps you have to have had 52 paid in previous year, unlike other PRSI classes which need 39. This article on the Welfare.ie site does not make mention of any different requirements for S class for pension contributions, but I wanted to make sure. It seems that there are usually penalties for paying S class in these cases.


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## Black Sheep (22 Mar 2011)

As you are now in your thirties it would be extremely difficult to even hazard a guess as to what the requirements for a full State Pension will be in the future. Having said that it is important to be aware of any changes as they happen.
All I could suggest is to always make sure there are no gaps in your record whether you are paying class *S *or class *A* on PAYE or if unemployed at any stage you are signing for credits or become a voluntary contributor.

You can request on-line at any time from SW a copy of your record of all contribution paid


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## Eeyore (22 Mar 2011)

Black Sheep said:


> You can request on-line at any time from SW a copy of your record of all contribution paid



Do you have a link for this on the welfare.ie website? I had a quick look and can't see where I can request this.


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## Gervan (22 Mar 2011)

https://www.welfare.ie/EN/Secure/Pages/RequestAcopyOfYourSIContributionsRecord.aspx


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## Eeyore (22 Mar 2011)

Thanks for that Gervan.


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## ninak (23 Mar 2011)

thanks for that blacksheep. I will get a statement from welfare of  stamps paid so far. It seems that S class, at least in this case, ie.  pensions, has the same entitlements as A class. This is what I was most  concerned about.


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