https://www.nsso.gov.ie/en/services/occupational-supplementary-pension-osp/
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This is a potentially interesting situation.
The calculation rate for the contributory OAP changed on 10th January. I retired last year and the calculation would have been based on 14,469.51.
The calculation was done on retirement, and the pension I receive is based on my pension and Suplementary Pension.
My understanding is that the Pension and Suplementary Pension will increase over the years in line with general increases in the grade. At the point of being eligible for the OAP, I will receive the OAP and my occupational pension.
The difference between someone retiring on the 9th and 11th of January is that the supplementary pension will be larger and the pension will be lower, Fast forward to retirement, the 9th January Person will have a higher occupational pension than the person who retired on the 11th January and the same OAP will be given to both all things been equal. The 9th January person could be better off by up to 626 per year. when it comes to getting the OAP. As their pension will be higher all along.
My understanding is that the supplementary pension tracks general pay nicreases in the grade rather than changes to the contributory pension.
How is entitlement to the Supplementary Pension decided?
In the case of public/civil servants who are fully insured (paying class A PRSI), their public service pensions are integrated with the SPC. This means that the public service pension paid to them is based on the assumption that the individual will also receive the SPC, at the maximum personal rate on retirement (maximum personal rate in 2024: €14,469.51 per year. This rate increased to €15,095.67 per year on 10 January 2025). Where this does not happen, a Supplementary Pension may be payable, on application, by the retired member (there is no automatic entitlement and the onus is on the individual to apply).-----------------------------------------------------------------------------------------------------------------------------------------------------------
This is a potentially interesting situation.
The calculation rate for the contributory OAP changed on 10th January. I retired last year and the calculation would have been based on 14,469.51.
The calculation was done on retirement, and the pension I receive is based on my pension and Suplementary Pension.
My understanding is that the Pension and Suplementary Pension will increase over the years in line with general increases in the grade. At the point of being eligible for the OAP, I will receive the OAP and my occupational pension.
The difference between someone retiring on the 9th and 11th of January is that the supplementary pension will be larger and the pension will be lower, Fast forward to retirement, the 9th January Person will have a higher occupational pension than the person who retired on the 11th January and the same OAP will be given to both all things been equal. The 9th January person could be better off by up to 626 per year. when it comes to getting the OAP. As their pension will be higher all along.
My understanding is that the supplementary pension tracks general pay nicreases in the grade rather than changes to the contributory pension.