I am planning to draw down on a DC pension when I hit 65. If I claim the benefit for 65 year old how are prsi credits given? Are they paid contributions from the ARF monies or credited from the benefit?
If you retire at 65, you may qualify for a benefit payment until you reach 66. The payment is similar to Jobseeker’s Benefit, but you don’t need to be looking for work or sign on at your local Intreo centre.
You will get 52 Jobseekers credits added automatically to your Prsi record from the Benefit Payment 65.
If your ARF drawdown is 5000 euro or greater for any year, you will get 52 class S paid contributions automatically added to your Prsi record.
These class S contributions are possible up to the date you claim the State Contributory Pension or age 70. Whichever occurs first.
You can get both class S and Jobseekers credits in the same year, but only a maximum of 52 can be counted as Reckonable for the State pension.
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