Any advantage to buying A rate PRSI

[Chelsea1]

Interesting post. Can I ask a couple of questions; how did you manage to retire at 60 in the health service ? Was it on ill health grounds ? When will you get your lump sum and HSE pension do you have to wait for both til 65? Also how have the rules changed for post 2004 entrants ? Sorry I'm clueless about pensions but would also like to get out early at 60. Don't fancy living on welfare or working til 65. Will have around 33 years service at 60 but was only made permanent in 2007.

My contract stipulated that I could retire at 60. Could have waited until 65 if I wished.
As an A1 PRSI payee, mine is a Co ordinated pension. No issues with lump sum or pension, an approximate wait of 8 weeks. Hope that clarifies it a little for you.

 

[Chelsea1]

It is a condition for JSB that you are available for, and seeking, work. You will already have indicated this on the application form. If you tell you case officer that you are not available for work you are liable to face a penalty.

What changes at 62 is that you should not be required to engage in Activation, ie, training courses, etc. If you are assigned to an activation programme before 62 you are required to complete it, even if you turn 62 during it. I think it unlikely that you will be told to take up an activation programme when you meet (given that you are so close to 62). But that does not change the underlying conditions for eligibility.

From Citizens Information:
"Since 1 January 2014, if you are claiming Jobseeker’s Benefit orJobsekers Allowance and are aged 62 or over, you will no longer be required to engage with the compulsory activation process (see below) and you will not be subject to penalty rates for non-engagement. (All other rules for Jobseeker's Benefit or Allowance still apply.)

However, if you are already engaged in activation (selected and referred for engagement) or if you are currently taking part in an activation programme (such as Community Employment, JobPath or training courses), you are expected to complete the programme. If you leave activation programmes before completion, your jobseeker's payment may be reduced."

"What is activation?
Labour market activation policies are designed to give jobseekers a better chance of finding employment. The Department of Employment Affairs and Social Protection describes activation as its engagement with jobseekers to support them back into employment. Jobseekers are expected to fully engage with this process and use the supports offered during the activation process which might include education or training schemes, employment support schemes to help them back into the workplace, internships and other supports."

In the unlikely event that you are denied JSB you can apply for the Supplementary Pension from your ex-employer.

Thanks early Riser, will hopefully know more next week.

 

[Chelsea1]

Thanks early Riser, will hopefully know more next week.

Just an update for people interested in my retd. I saw my case officer who understood completely where I came from in terms of looking for work and been retd. I had to complete a CV and was given a card with a tel number for Jobs Ireland. I was told that as I am aged 62, i may not be asked to return again with the exception of signing on in October. Today I received a letter requesting me to complete a form and to produce evidence of looking for work. I have retd the form today, so will see what is next.