Advice re Leaving Public Sector

Early Riser said:
Its not a straight % though. It is 3% of pensionable earnings plus 3.5 % of net pensionable earnings. As an example, for Person A on €40,000 this works out at €1696, while for Person B on €80,000 it is €4296.

When we add in PRD, Person A's total pension deduction is €2496 while for Person B it is €9196.
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I am not sure if it's what you are intending, but you are backing up my point.

Higher-earning PS workers pay a greater % of salary in official pension contributions as well as higher PRD (which doesn't generate an entitlement).

It is (actuarially) something to consider if you peak early. You'll be making large-ish contributions for the rest of your career but with no upside to your eventual pension.

 
NoRegretsCoyote said:
I am not sure if it's what you are intending, but you are backing up my point.
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No intention one way or the other.

NoRegretsCoyote said:
It is (actuarially) something to consider if you peak early. You'll be making large-ish contributions for the rest of your career but with no upside to your eventual pension
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It might be hard to work it otherwise, though, for most people.:) I think some people may seek to pad up the "pensionable emollients" in the final years in those sectors/grades in which this may be possible, eg, shifts, etc. Also, at the top end you do tend to note some retirements after around 3 years in the top position.
 
Itchy said: ↑

I understand for post 2012's they wont be eligible for the Supplementary either.
My understanding as well.

correct;

'The Scheme's minimum pension age will be linked to the State Pension age (66 years initially, rising to 67 in 2021 and 68 in 2028)'
 
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