Normal average rule
The normal average rule states that you must have a yearly average of at least 10 qualifying contributions paid or credited, from the year you first entered insurance, to the end of the tax year before you reach pension age.
You need an average of 10 contributions a year to get a minimum pension, and you need an average of 48 a year to get the maximum pension.
Your yearly average will be rounded to the nearest number. For example, 9.4 is rounded down to 9 and 47.5 is rounded up to 48.
Not a full pension, actually a good bit less, if its after the transition period it's more or less proportionate to your contributions afaikHi, I appreciate it is being scaled down over the next 10 years but am I right in believing that if you have paid an average of 47 weeks PRSI contributions for just the last 10 yrs you are currently entitled to a full Irish pension? Mike
Total for TCA Calculation 1,817 | ÷ | 2080 | = | 0.8735 | X | 100 | = | % of maximum rate, 87.35% | |
% of maximum rate 87.35% | X | maximum rate of SPC €277.30 | = | Rate payable €242.30 | |||||