Claiming job seekers after retiring

I just heard of someone after retiring from 40 odd years of service, 65 years of age, the day after the retirement party going down to the dole office to claim job seekers. They have no intention of getting a job, just going to ride it out as long as they can.

How prevalent is this practice? From what I heard, it's the "done thing" these days.

Would you put a number on those claiming job seekers who have no intention of ever working?

Claiming Jobseeker's Benefit at age 65 continues a person's PRSI record until they reach age 66 and can claim the State Pension.

This may become more prevalent when the State Transition Pension is discontinued.

After 40 years working life surely this person is entitled to his Transition pension or is he a public servant in which case he is entitled to his Public service pension or perhaps BOTH.

Can't imagine why he would be going to sign on. For what?????????

for free money by the sounds of it

Me thinks he will be wasting his time

Black Sheep said:

After 40 years working life surely this person is entitled to his Transition pension or is he a public servant in which case he is entitled to his Public service pension or perhaps BOTH.

Can't imagine why he would be going to sign on. For what?????????

Click to expand...

Anyone who retires on a full occupational pension before 66 is entitled to a Transition Pension from age 65 to 66. This is due to be discontinued from the end of 2013. The pensioners who retired from the Public Service after 40 yrs service and who were under 65 and who have paid PRSI at the A rate are the most likely to be involved in this pension. That is because they are only getting the Occupational part of their pension from the day the retire, and not their full pension which woulds include the State Contributory Pension.

A person who retires with 40yrs service at age 62, and who has paid Class A PRSI may be entitled to Jobseekers Benefit initially and then Jobseekers Allowance until they reach 65.

There is a timetomb looming for the Govt here, this is one of the most under-discussed yet highest impacting changes to the SW system in years. It starts 1st Jan 2014.
Up until this budget, those affected at least had an expectation of JSB to cover the missing year, albeit at a lower rate than the transition pension. But now they will only get the JSB for 9 months and then have to do a means test for JSA.

Many of these people have contracts with companys that do not stipulate a retirement date and there will be much fun in the labour courts when they say to their employers that they want to stay in work until 66.

Another set of people have integrated occupational pensions, that offset a multiple of the state pension payable at 65 ( which will now be zero ..) ... another potential minefield.

And further down the line when pension age is 67 the gap is even wider for those whose contract ends at 65.