monnigblower
Registered User
- Messages
- 16
Petal said:I'm also currently buying back pension years, I think about 3 years or so. Basically they divide the the contributions over the rest of your potentional employment time (up to your 65th birthday), so I think I'm only paying about 40 Euros net extra per month. It's more gross, but the good thing is it comes out before tax, so you might not even need to touch your savings... Don't think you can buy them all at once anyway....
I believe that the pension is HSE since my wife works in an organisation funded by the department of health
Slim said:Monnigblower
A public sector pension is said to equate to a pension fund of 27 times the annual benefit!
Slim
Using the Annuity cost is a reasonable comparison.
Class D contributors do not get a State Pension under Social Protection. They are members of a “non-integrated “Occupational Pension Scheme.
My original post was simply trying to put some “capital value”on the benefit compared say to a Private Sector DC scheme.
As I have posted elsewhere on this site, I am simply trying to value the typical Civil Service pension as we have often seen cases where senior CS have retired early, been granted additional years service for free and mainly because the value of such benefits are never crysyalised. Nobody ever accounts for such pension additions ( because there is no “funding”) which contrasts with the private sector where such additions actually cost real money. But perhaps that’s another debate?
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