Combining Australian and Irish Pension Contributions

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Reni10

Registered User
Messages
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I am looking to retire in about 7 years time in 2031 at 55 and will have paid about 24 years worth of contributions in Ireland when I have worked here and also contributions in Australia for 10 years.

I have now been based back in Ireland for the last 12 years and would be looking to retire either in some other EU or Asian country and want to maximise my potential pension so I have a few questions which hopefully members here can help with:

1. I believe I can combine my Irish and Australian contributions when it comes to the State Contributory Pension in Ireland to make up the 40 years worth of PRSI needed to get the full Irish pension?

2. As I plan to stop working at 55 and if I can combine the Australian contributions I will need to make voluntary contributions of about 6 years to get me to the full 40years worth of PRSI payments.
How much per year voluntary PRSI payments will I need to make?

3. Is there any pitfalls that people have come across with combining Australian and Irish contributions that I need to be aware of?

Thanks all
 
Reni10 said:
I am looking to retire in about 7 years time in 2031 at 55 and will have paid about 24 years worth of contributions in Ireland when I have worked here and also contributions in Australia for 10 years.

I have now been based back in Ireland for the last 12 years and would be looking to retire either in some other EU or Asian country and want to maximise my potential pension so I have a few questions which hopefully members here can help with:

1. I believe I can combine my Irish and Australian contributions when it comes to the State Contributory Pension in Ireland to make up the 40 years worth of PRSI needed to get the full Irish pension?

2. As I plan to stop working at 55 and if I can combine the Australian contributions I will need to make voluntary contributions of about 6 years to get me to the full 40years worth of PRSI payments.
How much per year voluntary PRSI payments will I need to make?

3. Is there any pitfalls that people have come across with combining Australian and Irish contributions that I need to be aware of?

Thanks all
Click to expand...
You cannot combine your Irish and Australian contributions to achieve a full Irish pension. You will only get an Irish pro rata part pension and not the full Irish pension.
You may might be better off applying separately to the Irish and Australian pensions when you come up to the right age.

It is possible to make voluntary contributions in Ireland under certain conditions.

Pension age in Ireland is currently 66. It may might be even higher when you reach that age. Nobody knows what the future brings. You will be unable to draw down any Irish state pension before you reach pension age.

Take also note of the current changes in the Irish contributory pension system.


Voluntary social insurance contributions

Voluntary social insurance contributions can help you qualify for a social insurance payment in the future. Find out more about making voluntary contributions.
www.citizensinformation.ie www.citizensinformation.ie

Operational Guidelines: State Pension Contributory

www.gov.ie www.gov.ie

Operational Guidelines: Application of Bilateral Agreements

www.gov.ie www.gov.ie
 
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