Hi,
I am hoping to take early retirement in 4 years time at 58. I joined the PS in 2000, but had 6 years previous service in the pre 95 scheme which I had cashed in at the time of leaving as I was going abroad. When I returned to a different job in the PS I purchased this service back. I will have total service of 35 years (including the buy back) at age 58. However, I will only have c.1700 PRSI contributions.
Should I purchase an AVC now to transfer to an ARF so that I can draw down to continue to make PRSI contributions up to 66 or am I as well off purchasing voluntary contributions? Also, will I be entitled to claim supplementary pension between 58 and 66 if I don't have the 2080 contributions?
Any advice would be gratefully received as I really do not understand much about pensions...
Thanks
Weleda
I am hoping to take early retirement in 4 years time at 58. I joined the PS in 2000, but had 6 years previous service in the pre 95 scheme which I had cashed in at the time of leaving as I was going abroad. When I returned to a different job in the PS I purchased this service back. I will have total service of 35 years (including the buy back) at age 58. However, I will only have c.1700 PRSI contributions.
Should I purchase an AVC now to transfer to an ARF so that I can draw down to continue to make PRSI contributions up to 66 or am I as well off purchasing voluntary contributions? Also, will I be entitled to claim supplementary pension between 58 and 66 if I don't have the 2080 contributions?
Any advice would be gratefully received as I really do not understand much about pensions...
Thanks
Weleda